CoreCivic (CXW) to Release Earnings on Wednesday

CoreCivic (NYSE:CXW) is scheduled to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. CoreCivic has set its FY24 guidance at $1.46-1.61 EPS and its FY 2024 guidance at 1.460-1.610 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.17). The firm had revenue of $491.25 million for the quarter, compared to the consensus estimate of $489.62 million. CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. On average, analysts expect CoreCivic to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CoreCivic Price Performance

Shares of CXW opened at $15.29 on Tuesday. The company has a 50 day moving average of $15.18 and a two-hundred day moving average of $14.42. 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 twelve month low of $8.27 and a twelve month high of $16.24. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 25.92 and a beta of 0.81.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Northland Securities raised their price objective on CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. StockNews.com downgraded CoreCivic from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Finally, Wedbush upped their price objective on shares of CoreCivic from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, April 8th.

Insiders Place Their Bets

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