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.

CoreCivic Stock Performance

CXW traded up $0.44 on Friday, reaching $22.52. The company had a trading volume of 4,147,843 shares, compared to its average volume of 976,815. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The stock has a market capitalization of $2.48 billion, a PE ratio of 33.61 and a beta of 0.86. The stock has a 50-day moving average price of $13.68 and a 200-day moving average price of $13.83.

CoreCivic (NYSE:CXW) last posted 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). The firm had revenue of $490.11 million during the quarter, compared to analysts’ expectations of $481.87 million. CoreCivic had a net margin of 3.85% and a return on equity of 6.57%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, research analysts forecast that CoreCivic will post 1.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CXW shares. Northland Securities raised their target price on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday. Wedbush reiterated a “neutral” rating and set a $14.00 price target on shares of CoreCivic in a research note on Friday, September 13th.

Insider Buying and Selling at CoreCivic

In other 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 transaction of $186,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Patrick D. Swindle sold 15,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.40, for a total transaction of $186,000.00. Following the transaction, the chief operating officer now directly owns 203,504 shares in the company, valued at $2,523,449.60. 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 available through this link. Also, EVP Cole G. Carter sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total transaction of $100,640.00. Following the transaction, the executive vice president now directly owns 207,847 shares of the company’s stock, valued at $2,614,715.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,996 shares of company stock worth $2,177,640. 1.89% of the stock is currently owned by 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.