FY2024 EPS Estimates for CoreCivic Lifted by Noble Financial

CoreCivic, Inc. (NYSE:CXW - Free Report) - Equities researchers at Noble Financial raised their FY2024 earnings estimates for shares of CoreCivic in a note issued to investors on Friday, November 8th. Noble Financial analyst J. Gomes now anticipates that the real estate investment trust will post earnings of $1.65 per share for the year, up from their prior estimate of $1.52. The consensus estimate for CoreCivic's current full-year earnings is $1.64 per share. Noble Financial also issued estimates for CoreCivic's Q4 2024 earnings at $0.33 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.46 EPS.

Several other research firms have also recently weighed in on CXW. Northland Securities raised their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday. Wedbush reiterated a "neutral" rating and issued a $14.00 price objective on shares of CoreCivic in a report on Friday, September 13th.

CoreCivic Price Performance

CXW traded up $1.42 during trading on Monday, reaching $23.94. 3,258,681 shares of the company were exchanged, compared to its average volume of 987,235. CoreCivic has a 12-month low of $10.74 and a 12-month high of $24.99. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 35.73 and a beta of 0.86. The company has a quick ratio of 1.44, a current ratio of 1.51 and a debt-to-equity ratio of 0.66. The company's 50-day moving average is $13.89 and its two-hundred day moving average is $13.89.

Insider Activity at CoreCivic

In other news, EVP Cole G. Carter sold 8,000 shares of the business's 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Cole G. Carter sold 8,000 shares of the business'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 sale, the executive vice president now owns 207,847 shares of the company's stock, valued at $2,614,715.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David K. Churchill sold 15,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $13.61, for a total value of $204,150.00. Following the completion of the transaction, the insider now directly owns 214,056 shares in the company, valued at approximately $2,913,302.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,996 shares of company stock valued at $1,549,940 over the last 90 days. Corporate insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On CoreCivic

Several hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in shares of CoreCivic during the 2nd quarter valued at approximately $29,000. nVerses Capital LLC bought a new stake in shares of CoreCivic in the 2nd quarter worth about $40,000. GAMMA Investing LLC raised its position in shares of CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 1,632 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of CoreCivic in the 1st quarter valued at about $84,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in CoreCivic in the first quarter worth about $87,000. Hedge funds and other 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.