Noble Financial Forecasts Stronger Earnings for CoreCivic

CoreCivic, Inc. (NYSE:CXW) – Noble Financial upped their FY2024 earnings per share (EPS) estimates for shares of CoreCivic in a report issued on Friday, November 8th. Noble Financial analyst J. Gomes now forecasts that the real estate investment trust will post earnings of $1.65 per share for the year, up from their prior estimate of $1.52. The consensus estimate for CoreCivic’s current full-year earnings is $1.64 per share. Noble Financial also issued estimates for CoreCivic’s Q4 2024 earnings at $0.33 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.46 EPS.

CXW has been the topic of a number of other research reports. Northland Securities boosted their price target on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wedbush restated a “neutral” rating and issued a $14.00 target price on shares of CoreCivic in a report on Friday, September 13th.

CoreCivic Price Performance

CoreCivic stock opened at $22.13 on Monday. The stock’s 50 day moving average is $14.07 and its 200 day moving average is $13.94. CoreCivic has a one year low of $10.74 and a one year high of $24.99. The firm has a market cap of $2.44 billion, a P/E ratio of 33.03 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.44.

Insiders Place Their Bets

In other CoreCivic news, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the sale, the chief financial officer now directly owns 276,528 shares in the company, valued at approximately $6,691,977.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CoreCivic news, CFO David Garfinkle sold 50,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.20, for a total value of $1,210,000.00. Following the transaction, the chief financial officer now owns 276,528 shares in the company, valued at approximately $6,691,977.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David K. Churchill sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.61, for a total value of $204,150.00. Following the completion of the sale, the insider now directly owns 214,056 shares of the company’s stock, valued at $2,913,302.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,000 shares of company stock worth $2,094,790. Corporate insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its position in shares of CoreCivic by 2.8% during the second quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 804 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of CoreCivic by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust’s stock worth $1,033,000 after purchasing an additional 998 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of CoreCivic by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 99,426 shares of the real estate investment trust’s stock valued at $1,552,000 after purchasing an additional 1,330 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of CoreCivic by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock valued at $745,000 after buying an additional 1,401 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of CoreCivic by 7.4% during the first quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 1,578 shares during the last quarter. Institutional investors and hedge funds own 85.13% 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.