CoreCivic (NYSE:CXW) Releases FY24 Earnings Guidance

CoreCivic (NYSE:CXW) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $1.59-1.65 for the period, compared to the consensus EPS estimate of $1.31.

CoreCivic Trading Up 29.1 %

Shares of CXW traded up $3.96 during mid-day trading on Wednesday, reaching $17.59. The company had a trading volume of 6,538,632 shares, compared to its average volume of 947,622. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 29.28 and a beta of 0.86. The firm has a fifty day simple moving average of $13.27 and a 200-day simple moving average of $13.70. CoreCivic has a fifty-two week low of $10.74 and a fifty-two week high of $18.24.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The firm had revenue of $490.11 million for the quarter, compared to analysts’ expectations of $481.87 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CoreCivic will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wedbush reissued a “neutral” rating and issued a $14.00 price objective on shares of CoreCivic in a research report on Friday, September 13th.

Insider Activity

In other news, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction that occurred 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 sale, the executive vice president now owns 207,847 shares in the company, valued at $2,614,715.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Cole G. Carter sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total value of $100,640.00. Following the transaction, the executive vice president now owns 207,847 shares in the company, valued at approximately $2,614,715.26. 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. Also, COO Patrick D. Swindle sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.40, for a total value of $186,000.00. Following the sale, the chief operating officer now owns 203,504 shares of the company’s stock, valued at approximately $2,523,449.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,996 shares of company stock worth $2,177,640. 2.21% of the stock is currently owned by corporate insiders.

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.