CoreCivic, Inc. (NYSE:CXW) Forecasted to Earn Q2 2024 Earnings of $0.36 Per Share

CoreCivic, Inc. (NYSE:CXW - Free Report) - Equities researchers at Wedbush lifted their Q2 2024 EPS estimates for CoreCivic in a research report issued to clients and investors on Monday, April 8th. Wedbush analyst J. Mccanless now expects that the real estate investment trust will earn $0.36 per share for the quarter, up from their previous estimate of $0.35. Wedbush has a "Outperform" rating and a $19.00 price target on the stock. The consensus estimate for CoreCivic's current full-year earnings is $1.30 per share. Wedbush also issued estimates for CoreCivic's FY2025 earnings at $1.84 EPS.

CXW has been the subject of several other reports. Northland Securities raised their target price on shares of CoreCivic from $17.00 to $19.00 and gave the company an "outperform" rating in a research note on Tuesday, March 26th. StockNews.com lowered shares of CoreCivic from a "buy" rating to a "hold" rating in a research note on Thursday, February 22nd.

CoreCivic Stock Up 0.1 %

CXW stock traded up $0.01 during mid-day trading on Thursday, reaching $15.72. The company had a trading volume of 475,527 shares, compared to its average volume of 948,728. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 26.64 and a beta of 0.81. CoreCivic has a 52 week low of $7.84 and a 52 week high of $16.24. The stock has a 50 day simple moving average of $14.97 and a two-hundred day simple moving average of $13.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.60 and a quick ratio of 1.60.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.17). CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. The company had revenue of $491.25 million during the quarter, compared to the consensus estimate of $489.62 million.

Hedge Funds Weigh In On CoreCivic

Several institutional investors and hedge funds have recently modified their holdings of CXW. BlackRock Inc. increased its stake in CoreCivic by 1.1% during the 1st quarter. BlackRock Inc. now owns 18,939,729 shares of the real estate investment trust's stock worth $174,246,000 after acquiring an additional 199,682 shares during the period. FMR LLC increased its position in shares of CoreCivic by 0.6% in the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust's stock worth $96,721,000 after purchasing an additional 53,395 shares during the period. State Street Corp raised its stake in CoreCivic by 1.1% in the second quarter. State Street Corp now owns 4,239,868 shares of the real estate investment trust's stock valued at $47,105,000 after purchasing an additional 48,018 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in CoreCivic by 24.2% in the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust's stock valued at $37,091,000 after purchasing an additional 641,576 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in CoreCivic by 1,050.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust's stock worth $45,603,000 after purchasing an additional 2,865,763 shares during the period. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total value of $217,500.00. Following the transaction, the executive vice president now directly owns 186,692 shares in the company, valued at $2,707,034. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Damon T. Hininger sold 50,525 shares of CoreCivic stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the sale, the chief executive officer now directly owns 820,262 shares of the company's stock, valued at approximately $11,992,230.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of the 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 in the company, valued at approximately $2,707,034. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by corporate insiders.

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.