Zacks Small Cap Expects Increased Earnings for CoreCivic

CoreCivic, Inc. (NYSE:CXW) – Research analysts at Zacks Small Cap upped their FY2024 earnings estimates for CoreCivic in a report issued on Monday, November 11th. Zacks Small Cap analyst M. Marin now expects that the real estate investment trust will post earnings of $1.64 per share for the year, up from their previous forecast of $1.49. The consensus estimate for CoreCivic’s current full-year earnings is $1.64 per share. Zacks Small Cap also issued estimates for CoreCivic’s Q4 2024 earnings at $0.33 EPS and FY2025 earnings at $1.69 EPS.

A number of other research analysts have also recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities boosted their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday.

CoreCivic Price Performance

CXW stock opened at $23.94 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.44 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.64 billion, a PE ratio of 35.73 and a beta of 0.86. CoreCivic has a 12 month low of $10.74 and a 12 month high of $24.99. The company has a 50-day moving average price of $13.89 and a 200 day moving average price of $13.89.

Institutional Trading of CoreCivic

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in CoreCivic in the second quarter valued at approximately $29,000. nVerses Capital LLC acquired a new stake in CoreCivic during the 2nd quarter valued at approximately $40,000. GAMMA Investing LLC boosted its holdings in shares of CoreCivic by 77.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,632 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CoreCivic in the first quarter worth $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in CoreCivic during the first quarter valued at $87,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Insider Activity

In related news, EVP Lucibeth Mayberry sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total value of $505,200.00. Following the completion of the sale, the executive vice president now directly owns 223,733 shares of the company’s stock, valued at $2,825,747.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CoreCivic news, CEO Damon T. Hininger sold 31,996 shares of the firm’s stock in a transaction on 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 owns 788,266 shares of the company’s stock, valued at approximately $9,853,325. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the executive vice president now directly owns 223,733 shares in the company, valued at approximately $2,825,747.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,996 shares of company stock worth $1,549,940. Company insiders own 1.89% 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.