CoreCivic (NYSE:CXW) Updates FY 2024 Earnings Guidance

CoreCivic (NYSE:CXW) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.590-1.650 for the period, compared to the consensus EPS estimate of 1.310. The company issued revenue guidance of -. CoreCivic also updated its FY24 guidance to $1.59-1.65 EPS.

CoreCivic Trading Up 29.1 %

Shares of CoreCivic stock traded up $3.96 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 firm has a market cap of $1.94 billion, a price-to-earnings ratio of 29.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44. The firm’s 50-day moving average price is $13.27 and its two-hundred day moving average price is $13.70. CoreCivic has a 1 year low of $10.74 and a 1 year high of $18.24.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). The firm had revenue of $490.11 million for the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a net margin of 3.50% and a return on equity of 6.10%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, research analysts predict that CoreCivic will post 1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at CoreCivic

In related news, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other CoreCivic news, EVP Cole G. Carter sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total value of $100,640.00. Following the transaction, the executive vice president now directly owns 207,847 shares in the company, valued at $2,614,715.26. This 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 this hyperlink. Also, insider David K. Churchill sold 15,000 shares of CoreCivic stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.61, for a total transaction of $204,150.00. Following the sale, the insider now directly owns 214,056 shares of the company’s stock, valued at $2,913,302.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,996 shares of company stock worth $2,177,640. Insiders own 2.21% of the company’s stock.

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.