CoreCivic (NYSE:CXW) Sets New 12-Month High – Here’s Why

CoreCivic, Inc. (NYSE:CXW) reached a new 52-week high on Friday . The stock traded as high as $23.43 and last traded at $23.2220, with a volume of 189724 shares. The stock had previously closed at $23.06.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JonesTrading reissued a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research report on Friday, February 13th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Benchmark started coverage on CoreCivic in a research report on Tuesday, March 24th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Wall Street Zen cut CoreCivic from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.00.

CoreCivic Stock Performance

The firm has a fifty day simple moving average of $20.55 and a 200 day simple moving average of $19.33. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 18.87 and a beta of 0.67.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.16). The firm had revenue of $614.73 million during the quarter, compared to analyst estimates of $604.48 million. CoreCivic had a net margin of 5.53% and a return on equity of 9.29%. The company’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. CoreCivic has set its FY 2026 guidance at 2.580-2.680 EPS. As a group, sell-side analysts expect that CoreCivic, Inc. will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently added to or reduced their stakes in CXW. Royal Bank of Canada grew its stake in shares of CoreCivic by 49.2% in the 1st quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust’s stock valued at $1,207,000 after purchasing an additional 19,630 shares during the period. AQR Capital Management LLC boosted its position in CoreCivic by 69.8% in the 1st quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 11,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CoreCivic by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust’s stock valued at $1,315,000 after buying an additional 2,828 shares during the last quarter. Jones Financial Companies Lllp boosted its position in CoreCivic by 3,884.2% in the 1st quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 18,411 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CoreCivic by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock valued at $4,473,000 after buying an additional 4,977 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Company Profile

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.