CoreCivic (NYSE:CXW) Releases FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CXW shares. Wedbush restated a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a report on Friday, September 13th. Northland Securities increased their price target on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a report on Friday.

CoreCivic Price Performance

CXW traded up $0.44 during trading on Friday, hitting $22.52. 4,147,843 shares of the company traded hands, compared to its average volume of 976,815. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $13.68 and its two-hundred day simple moving average is $13.83. The company has a market cap of $2.48 billion, a PE ratio of 33.61 and a beta of 0.86.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). The company had revenue of $490.11 million during the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a return on equity of 6.57% and a net margin of 3.85%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, sell-side analysts anticipate that CoreCivic will post 1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Damon T. Hininger sold 31,996 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 788,266 shares of the company’s stock, valued at approximately $9,853,325. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CoreCivic news, CEO Damon T. Hininger sold 31,996 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $399,950.00. Following the completion of the sale, the chief executive officer now directly owns 788,266 shares of the company’s stock, valued at approximately $9,853,325. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick D. Swindle sold 15,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.40, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 169,996 shares of company stock valued at $2,177,640 over the last quarter. 1.89% of the stock is owned by corporate 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.