CoreCivic (CXW) Set to Announce Quarterly Earnings on Wednesday

CoreCivic (NYSE:CXW) is set to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect CoreCivic to post 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 wish to register for the company’s conference call can do so using this link.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The company had revenue of $491.25 million during the quarter, compared to analyst estimates of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. 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 NYSE CXW opened at $15.26 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.60 and a quick ratio of 1.60. The firm’s 50 day simple moving average is $15.16 and its 200-day simple moving average is $14.39. CoreCivic has a 12 month low of $7.84 and a 12 month high of $16.24. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 25.86 and a beta of 0.81.

Insider Buying and Selling

In other news, CEO Damon T. Hininger sold 50,525 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the transaction, the chief executive officer now owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction on 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $14.62, for a total value of $738,675.50. Following the transaction, the chief executive officer now owns 820,262 shares of the company’s stock, valued at $11,992,230.44. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.