Noble Financial Predicts Increased Earnings for CoreCivic

CoreCivic, Inc. (NYSE:CXW) – Equities research analysts at Noble Financial upped their FY2024 earnings per share estimates for CoreCivic in a report released on Friday, November 8th. Noble Financial analyst J. Gomes now expects that the real estate investment trust will post earnings of $1.65 per share for the year, up from their prior estimate of $1.52. The consensus estimate for CoreCivic’s current full-year earnings is $1.64 per share. Noble Financial also issued estimates for CoreCivic’s Q4 2024 earnings at $0.33 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.46 EPS.

Several other research firms have also weighed in on CXW. Wedbush reaffirmed a “neutral” rating and issued a $14.00 target price on shares of CoreCivic in a report on Friday, September 13th. Northland Securities raised their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday.

CoreCivic Stock Performance

Shares of NYSE:CXW opened at $22.52 on Monday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 33.61 and a beta of 0.86. The business’s fifty day moving average price is $13.68 and its two-hundred day moving average price is $13.82. CoreCivic has a fifty-two week low of $10.74 and a fifty-two week high of $24.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.44.

Insider Activity

In other CoreCivic news, CEO Damon T. Hininger sold 31,996 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total value of $399,950.00. Following the completion of the transaction, the chief executive officer now directly owns 788,266 shares of the company’s stock, valued at approximately $9,853,325. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Damon T. Hininger sold 31,996 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $399,950.00. Following the completion of the sale, the chief executive officer now owns 788,266 shares in the company, valued at $9,853,325. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lucibeth Mayberry sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total value of $505,200.00. Following the transaction, the executive vice president now directly owns 223,733 shares in the company, valued at $2,825,747.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,996 shares of company stock worth $1,549,940. 1.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its position in shares of CoreCivic by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock valued at $383,000 after acquiring an additional 804 shares during the period. SummerHaven Investment Management LLC raised its holdings in CoreCivic by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust’s stock worth $1,033,000 after purchasing an additional 998 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of CoreCivic by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 99,426 shares of the real estate investment trust’s stock worth $1,552,000 after purchasing an additional 1,330 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of CoreCivic by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock valued at $745,000 after buying an additional 1,401 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of CoreCivic by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 1,578 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.