FY2025 Earnings Forecast for CoreCivic Issued By Wedbush

Key Points

• Wedbush analysts predict that CoreCivic will earn $1.83 per share in FY2025, with an "Outperform" rating and a price target of $38.00.
• CoreCivic's recent earnings report showed a 0.45 EPS for the quarter, surpassing estimates, despite a 2.4% decrease in revenue year-over-year.
• Insiders have recently sold a total of 184,246 shares of CoreCivic stock, indicating a decrease in their holdings, while institutional investors own 85.13% of the company's stock.

CoreCivic, Inc. (NYSE:CXW - Free Report) - Stock analysts at Wedbush issued their FY2025 earnings per share (EPS) estimates for shares of CoreCivic in a note issued to investors on Monday, August 4th. Wedbush analyst J. Mccanless forecasts that the real estate investment trust will earn $1.83 per share for the year. Wedbush currently has a "Outperform" rating and a $38.00 target price on the stock. The consensus estimate for CoreCivic's current full-year earnings is $1.50 per share.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%. The business had revenue of $538.17 million for the quarter, compared to analyst estimates of $499.02 million. During the same quarter in the prior year, the company posted $0.42 EPS. The company's quarterly revenue was up 9.8% on a year-over-year basis.

Several other equities analysts have also commented on CXW. Wall Street Zen raised CoreCivic from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Jones Trading reissued a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research note on Thursday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $33.33.

CoreCivic Trading Up 2.3%

Shares of CoreCivic stock traded up $0.45 during trading hours on Wednesday, hitting $20.45. The company's stock had a trading volume of 1,575,533 shares, compared to its average volume of 1,028,214. CoreCivic has a twelve month low of $12.13 and a twelve month high of $24.99. The firm has a fifty day moving average of $20.92 and a 200-day moving average of $20.69. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 21.76 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.55 and a current ratio of 1.60.

Insider Activity

In related news, EVP Lucibeth Mayberry sold 75,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the transaction, the executive vice president owned 211,232 shares of the company's stock, valued at approximately $4,539,375.68. This represents a 26.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick D. Swindle sold 23,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $22.39, for a total value of $514,970.00. Following the sale, the chief operating officer owned 241,630 shares in the company, valued at approximately $5,410,095.70. This trade represents a 8.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,246 shares of company stock worth $4,061,215 in the last quarter. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On CoreCivic

Several large investors have recently bought and sold shares of the stock. Intech Investment Management LLC increased its holdings in CoreCivic by 61.0% during the 2nd quarter. Intech Investment Management LLC now owns 117,987 shares of the real estate investment trust's stock worth $2,486,000 after purchasing an additional 44,706 shares during the period. Creative Planning purchased a new stake in CoreCivic during the 2nd quarter worth about $232,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in CoreCivic by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,025 shares of the real estate investment trust's stock worth $590,000 after purchasing an additional 1,735 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in CoreCivic by 4.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 24,679 shares of the real estate investment trust's stock worth $520,000 after purchasing an additional 1,121 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in CoreCivic by 7.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 221,807 shares of the real estate investment trust's stock worth $4,673,000 after purchasing an additional 14,842 shares during the period. Hedge funds and other institutional investors own 85.13% of the company's stock.

CoreCivic Company Profile

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.