CoreCivic (NYSE:CXW) Releases FY 2024 Earnings Guidance

CoreCivic (NYSE:CXW) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.560-1.660 for the period, compared to the consensus earnings per share estimate of 1.550. The company issued revenue guidance of -. CoreCivic also updated its FY24 guidance to $1.56-$1.66 EPS.

CoreCivic Price Performance

Shares of CoreCivic stock traded up $0.04 during trading on Wednesday, hitting $15.35. 656,991 shares of the company were exchanged, compared to its average volume of 865,561. The firm has a 50 day moving average price of $15.19 and a 200 day moving average price of $14.45. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 25.95 and a beta of 0.81. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.73. CoreCivic has a fifty-two week low of $8.27 and a fifty-two week high of $16.24.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The firm had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $489.62 million. CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. On average, equities analysts expect that CoreCivic will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com cut shares of CoreCivic from a buy rating to a hold rating in a research report on Monday, April 29th. Wedbush lifted their target price on CoreCivic from $18.00 to $19.00 and gave the stock an outperform rating in a research report on Monday, April 8th. Finally, Northland Securities increased their price target on CoreCivic from $17.00 to $19.00 and gave the company an outperform rating in a report on Tuesday, March 26th.

Insider Transactions at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the sale, the executive vice president now owns 186,692 shares in the company, valued at approximately $2,707,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $14.62, for a total value of $738,675.50. Following the sale, the chief executive officer now directly owns 820,262 shares in the company, valued at $11,992,230.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the transaction, the executive vice president now owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

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.