CoreCivic FY2024 EPS Forecast Boosted by Zacks Small Cap

CoreCivic, Inc. (NYSE:CXW) – Stock analysts at Zacks Small Cap raised their FY2024 EPS estimates for shares of CoreCivic in a note issued to investors on Monday, November 11th. Zacks Small Cap analyst M. Marin now expects that the real estate investment trust will post earnings of $1.64 per share for the year, up from their previous estimate of $1.49. The consensus estimate for CoreCivic’s current full-year earnings is $1.64 per share. Zacks Small Cap also issued estimates for CoreCivic’s Q4 2024 earnings at $0.33 EPS and FY2025 earnings at $1.69 EPS.

A number of other equities research analysts have also issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities lifted their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

CoreCivic Trading Down 7.6 %

NYSE:CXW opened at $22.13 on Tuesday. The business’s 50-day moving average is $14.07 and its two-hundred day moving average is $13.94. The firm has a market capitalization of $2.44 billion, a PE ratio of 33.03 and a beta of 0.86. CoreCivic has a 12 month low of $10.74 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.44.

Insider Activity

In related news, CFO David Garfinkle sold 25,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.60, for a total value of $340,000.00. Following the transaction, the chief financial officer now owns 326,528 shares in the company, valued at approximately $4,440,780.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CoreCivic news, EVP Cole G. Carter sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the completion of the transaction, the executive vice president now directly owns 207,847 shares of the company’s stock, valued at $2,614,715.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Garfinkle sold 25,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.60, for a total transaction of $340,000.00. Following the completion of the sale, the chief financial officer now directly owns 326,528 shares of the company’s stock, valued at $4,440,780.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,000 shares of company stock worth $2,094,790 over the last ninety days. Corporate insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently modified their holdings of CXW. Headlands Technologies LLC bought a new position in CoreCivic during the 2nd quarter worth approximately $29,000. nVerses Capital LLC bought a new position in CoreCivic during the second quarter worth $40,000. GAMMA Investing LLC increased its stake in CoreCivic by 77.7% during the third quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,632 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CoreCivic during the first quarter worth $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of CoreCivic in the 1st quarter valued at about $87,000. Institutional investors own 85.13% 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.