Noble Financial Predicts Increased Earnings for CoreCivic

Key Points

• Noble Financial has raised its FY2025 earnings per share estimate for CoreCivic to $2.04, significantly up from the previous forecast of $1.74, while the current consensus estimate stands at $1.50.
• CoreCivic reported a quarterly EPS of $0.59, exceeding expectations and marking a year-over-year increase from $0.42, with revenues rising by 9.8% to $538.17 million.
• The stock has received positive ratings from multiple analysts, with a current consensus rating of "Buy" and an average price target of $33.33.

CoreCivic, Inc. (NYSE:CXW - Free Report) - Investment analysts at Noble Financial raised their FY2025 earnings per share (EPS) estimates for CoreCivic in a research note issued to investors on Monday, August 11th. Noble Financial analyst J. Gomes now forecasts that the real estate investment trust will post earnings of $2.04 per share for the year, up from their previous forecast of $1.74. The consensus estimate for CoreCivic's current full-year earnings is $1.50 per share. Noble Financial also issued estimates for CoreCivic's FY2026 earnings at $2.42 EPS.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (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 during the quarter, compared to analyst estimates of $499.02 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year.

Other research analysts have also issued research reports about the company. Wedbush restated an "outperform" rating and set a $38.00 target price on shares of CoreCivic in a research report on Wednesday, June 11th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday. Finally, Jones Trading reiterated a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a report on Thursday, August 7th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $33.33.

CoreCivic Stock Up 2.5%

Shares of NYSE:CXW opened at $20.70 on Wednesday. CoreCivic has a 1 year low of $12.13 and a 1 year high of $24.99. The business has a 50 day simple moving average of $20.86 and a two-hundred day simple moving average of $20.67. The firm has a market capitalization of $2.22 billion, a PE ratio of 22.02 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60.

Institutional Trading of CoreCivic

A number of hedge funds have recently bought and sold shares of CXW. Advisors Asset Management Inc. acquired a new position in shares of CoreCivic during the second quarter worth $25,000. CWM LLC increased its position in shares of CoreCivic by 80.1% during the second quarter. CWM LLC now owns 2,186 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 972 shares in the last quarter. Copia Wealth Management acquired a new position in shares of CoreCivic during the fourth quarter worth $82,000. Russell Investments Group Ltd. increased its position in shares of CoreCivic by 86,300.0% during the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 4,315 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of CoreCivic by 10.0% during the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company's stock.

Insider Transactions at CoreCivic

In other CoreCivic news, CEO Damon T. Hininger sold 72,246 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the completion of the sale, the chief executive officer owned 879,324 shares in the company, valued at $19,784,790. This represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony L. Grande sold 10,000 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $22.22, for a total value of $222,200.00. Following the sale, the executive vice president owned 180,559 shares of the company's stock, valued at approximately $4,012,020.98. This represents a 5.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,246 shares of company stock worth $2,449,465 over the last three months. Company insiders own 2.30% 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.

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