CoreCivic (NYSE:CXW) Releases FY 2024 Earnings Guidance

CoreCivic (NYSE:CXW) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Stock Up 29.1 %

Shares of NYSE:CXW 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 capitalization of $1.94 billion, a PE ratio of 29.28 and a beta of 0.86. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. CoreCivic has a 52-week low of $10.74 and a 52-week high of $18.24. The firm’s 50 day simple moving average is $13.27 and its 200-day simple moving average is $13.70.

CoreCivic (NYSE:CXW) last issued 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 company 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%. CoreCivic’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, analysts expect that CoreCivic will post 1.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Transactions at CoreCivic

In related news, EVP Lucibeth Mayberry sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.63, for a total transaction of $505,200.00. Following the transaction, the executive vice president now directly owns 223,733 shares of the company’s stock, valued at $2,825,747.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other CoreCivic news, EVP Lucibeth Mayberry sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total value of $505,200.00. Following the completion of the transaction, the executive vice president now owns 223,733 shares of the company’s stock, valued at approximately $2,825,747.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David K. Churchill sold 35,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.62, for a total transaction of $441,700.00. Following the sale, the insider now directly owns 229,056 shares in the company, valued at $2,890,686.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,996 shares of company stock valued at $2,177,640 in the last quarter. 2.21% of the stock is currently owned by corporate insiders.

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.