Zacks Small Cap Decreases Earnings Estimates for CoreCivic

CoreCivic, Inc. (NYSE:CXW) – Stock analysts at Zacks Small Cap dropped their FY2025 earnings per share (EPS) estimates for shares of CoreCivic in a research report issued to clients and investors on Monday, October 6th. Zacks Small Cap analyst M. Marin now expects that the real estate investment trust will post earnings of $2.01 per share for the year, down from their previous forecast of $2.02. The consensus estimate for CoreCivic’s current full-year earnings is $1.50 per share.

A number of other analysts have also recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $38.00 target price on shares of CoreCivic in a report on Wednesday, June 11th. Wall Street Zen raised CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Jones Trading reissued a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of CoreCivic in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

CoreCivic Stock Down 1.0%

Shares of NYSE:CXW opened at $18.75 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. CoreCivic has a 1 year low of $12.45 and a 1 year high of $24.99. The stock has a market capitalization of $2.01 billion, a P/E ratio of 19.95 and a beta of 0.75. The stock has a 50-day simple moving average of $20.40 and a 200-day simple moving average of $21.01.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $538.17 million during the quarter, compared to analysts’ expectations of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS.

Institutional Investors Weigh In On CoreCivic

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of CoreCivic by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 470 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 702 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of CoreCivic by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 121,147 shares of the real estate investment trust’s stock valued at $2,553,000 after purchasing an additional 709 shares during the period. CWM LLC boosted its position in shares of CoreCivic by 80.1% in the 2nd quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 972 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of CoreCivic by 10.4% in the 2nd quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 1,002 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CoreCivic news, Director Thurgood Marshall, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the transaction, the director directly owned 44,023 shares of the company’s stock, valued at $903,351.96. This represents a 11.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Anthony L. Grande sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the completion of the transaction, the executive vice president directly owned 135,559 shares in the company, valued at approximately $2,871,139.62. The trade was a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,000 shares of company stock worth $1,042,545. 2.30% of the stock is currently owned by corporate insiders.

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.