Noble Financial Increases Earnings Estimates 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) - Analysts at Noble Financial boosted their FY2025 earnings per share estimates for shares of CoreCivic in a research report issued to clients and investors on Monday, August 11th. Noble Financial analyst J. Gomes now expects that the real estate investment trust will earn $2.04 per share for the year, up from their prior estimate 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 posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.16. The firm had revenue of $538.17 million for the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS.

A number of other equities analysts have also recently issued reports on the company. Wedbush restated an "outperform" rating and set a $38.00 price target on shares of CoreCivic in a report on Wednesday, June 11th. Jones Trading reiterated a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $33.33.

CoreCivic Trading Down 0.8%

Shares of CoreCivic stock traded down $0.17 on Wednesday, reaching $20.65. 717,984 shares of the company's stock were exchanged, compared to its average volume of 1,117,679. The company has a market capitalization of $2.21 billion, a P/E ratio of 21.97 and a beta of 0.80. CoreCivic has a 52 week low of $12.13 and a 52 week high of $24.99. The firm's 50-day moving average is $20.79 and its two-hundred day moving average is $20.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently bought and sold shares of CXW. LPL Financial LLC lifted its stake in CoreCivic by 67.2% during the 4th quarter. LPL Financial LLC now owns 69,838 shares of the real estate investment trust's stock valued at $1,518,000 after acquiring an additional 28,074 shares in the last quarter. Franklin Resources Inc. lifted its stake in CoreCivic by 52.7% during the 4th quarter. Franklin Resources Inc. now owns 51,038 shares of the real estate investment trust's stock valued at $1,110,000 after acquiring an additional 17,608 shares in the last quarter. Wells Fargo & Company MN lifted its stake in CoreCivic by 33.2% during the 4th quarter. Wells Fargo & Company MN now owns 69,965 shares of the real estate investment trust's stock valued at $1,521,000 after acquiring an additional 17,426 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in CoreCivic during the 4th quarter valued at $257,000. Finally, Russell Investments Group Ltd. lifted its stake in CoreCivic by 86,300.0% during the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 4,315 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Stacia Hylton sold 4,000 shares of the stock in a transaction 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 transaction, the director directly owned 82,969 shares in the company, valued at $1,799,597.61. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Damon T. Hininger sold 72,246 shares of the firm's stock in a transaction 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 owned 879,324 shares in the company, valued at approximately $19,784,790. This trade represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,246 shares of company stock worth $2,227,265 in the last ninety days. Corporate 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.