CoreCivic (CXW) Scheduled to Post Earnings on Wednesday

CoreCivic (NYSE:CXW) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. CoreCivic has set its FY24 guidance at $1.56-$1.66 EPS and its FY 2024 guidance at 1.560-1.660 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). CoreCivic had a return on equity of 5.74% and a net margin of 3.34%. The business had revenue of $500.69 million for the quarter, compared to analysts’ expectations of $477.93 million. During the same period in the previous year, the company earned $0.34 EPS. CoreCivic’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect CoreCivic to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CoreCivic Price Performance

NYSE:CXW opened at $12.19 on Tuesday. The stock’s fifty day moving average is $13.67 and its two-hundred day moving average is $14.51. CoreCivic has a 52 week low of $9.43 and a 52 week high of $16.54. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.36 billion, a P/E ratio of 21.98 and a beta of 0.87.

Insider Activity at CoreCivic

In related news, CFO David Garfinkle sold 19,900 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $15.18, for a total value of $302,082.00. Following the completion of the transaction, the chief financial officer now owns 361,628 shares in the company, valued at approximately $5,489,513.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the sale, the executive vice president now directly owns 168,380 shares of the company’s stock, valued at approximately $2,611,573.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Garfinkle sold 19,900 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $15.18, for a total value of $302,082.00. Following the completion of the sale, the chief financial officer now owns 361,628 shares of the company’s stock, valued at $5,489,513.04. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CXW. StockNews.com lowered CoreCivic from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Wedbush downgraded shares of CoreCivic from an “outperform” rating to a “neutral” rating and cut their target price for the company from $19.00 to $14.00 in a research note on Tuesday, June 11th. Finally, Noble Financial lowered shares of CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th.

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.