CoreCivic (NYSE:CXW) Updates FY 2024 Earnings Guidance

CoreCivic (NYSE:CXW) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.590-1.650 for the period, compared to the consensus earnings per share estimate of 1.310. The company issued revenue guidance of -. CoreCivic also updated its FY24 guidance to $1.59-1.65 EPS.

Analyst Ratings Changes

Several brokerages have issued reports on CXW. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a report on Friday, September 13th. Northland Securities increased their target price on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a report on Friday.

CoreCivic Trading Up 2.0 %

CXW traded up $0.44 during trading on Friday, hitting $22.52. The company’s stock had a trading volume of 4,147,843 shares, compared to its average volume of 976,815. CoreCivic has a twelve month low of $10.74 and a twelve month high of $24.99. The firm’s 50 day moving average price is $13.68 and its 200-day moving average price is $13.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $2.48 billion, a PE ratio of 33.61 and a beta of 0.86.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). CoreCivic had a return on equity of 6.57% and a net margin of 3.85%. The business had revenue of $490.11 million for the quarter, compared to analysts’ expectations of $481.87 million. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts expect that CoreCivic will post 1.51 earnings per share for the current year.

Insider Transactions at CoreCivic

In other CoreCivic news, COO Patrick D. Swindle sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.40, for a total value of $186,000.00. Following the completion of the transaction, the chief operating officer now owns 203,504 shares in the company, valued at $2,523,449.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the sale, the executive vice president now owns 207,847 shares of the company’s stock, valued at $2,614,715.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick D. Swindle sold 15,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.40, for a total transaction of $186,000.00. Following the completion of the transaction, the chief operating officer now owns 203,504 shares in the company, valued at $2,523,449.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,996 shares of company stock valued at $2,177,640 over the last quarter. Company insiders own 1.89% of the company’s stock.

CoreCivic Company Profile

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.