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) - Wedbush issued their FY2025 earnings per share estimates for shares of CoreCivic in a report issued on Monday, August 4th. Wedbush analyst J. Mccanless anticipates that the real estate investment trust will earn $1.83 per share for the year. Wedbush has a "Outperform" rating and a $38.00 price objective 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 earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.10. CoreCivic had a net margin of 4.33% and a return on equity of 5.75%. The business had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. During the same period in the previous year, the business posted $0.46 earnings per share. CoreCivic's revenue for the quarter was down 2.4% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the stock. Jones Trading reaffirmed a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Friday, July 18th. Wall Street Zen lowered CoreCivic from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CoreCivic currently has a consensus rating of "Moderate Buy" and an average price target of $33.33.

CoreCivic Stock Up 2.3%

CXW opened at $20.12 on Wednesday. The business's fifty day simple moving average is $21.03 and its 200 day simple moving average is $20.74. CoreCivic has a 52 week low of $11.91 and a 52 week high of $24.99. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.20 billion, a PE ratio of 26.47 and a beta of 0.80.

Hedge Funds Weigh In On CoreCivic

A number of hedge funds have recently bought and sold shares of the company. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of CoreCivic in the first quarter worth approximately $18,186,000. Millennium Management LLC lifted its holdings in shares of CoreCivic by 88.4% during the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust's stock valued at $27,435,000 after purchasing an additional 592,070 shares in the last quarter. Cooper Creek Partners Management LLC increased its holdings in CoreCivic by 9.9% in the 4th quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust's stock worth $133,206,000 after buying an additional 553,336 shares in the last quarter. Nuveen LLC purchased a new stake in shares of CoreCivic during the 1st quarter valued at about $10,629,000. Finally, Forest Avenue Capital Management LP purchased a new position in shares of CoreCivic during the fourth quarter valued at approximately $11,205,000. Institutional investors own 85.13% of the company's stock.

Insider Activity at CoreCivic

In other news, Director Stacia Hylton sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $21.69, for a total value of $86,760.00. Following the sale, the director directly owned 82,969 shares of the company's stock, valued at $1,799,597.61. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Damon T. Hininger sold 72,246 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total value of $1,625,535.00. Following the transaction, the chief executive officer directly owned 879,324 shares of the company's stock, valued at approximately $19,784,790. This trade represents a 7.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,246 shares of company stock valued at $4,061,215 over the last ninety days. Insiders own 2.30% 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.

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