Noble Financial Forecasts Increased Earnings for CoreCivic

CoreCivic, Inc. (NYSE:CXW) – Noble Financial increased their FY2024 earnings per share (EPS) estimates for CoreCivic in a report released 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 previous forecast 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 analysts also recently weighed in on the company. Northland Securities lifted their price objective on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a report on Friday. Wedbush restated a “neutral” rating and issued a $14.00 price objective on shares of CoreCivic in a report on Friday, September 13th.

CoreCivic Stock Performance

CXW stock opened at $23.94 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.44. The business has a 50-day moving average price of $13.89 and a 200 day moving average price of $13.89. The company has a market capitalization of $2.64 billion, a P/E ratio of 35.73 and a beta of 0.86. CoreCivic has a 1-year low of $10.74 and a 1-year high of $24.99.

Institutional Investors Weigh In On CoreCivic

Large investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of CoreCivic during the second quarter worth about $29,000. nVerses Capital LLC purchased a new stake in CoreCivic in the second quarter valued at approximately $40,000. GAMMA Investing LLC boosted its position in CoreCivic by 77.7% in the third 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 during the last quarter. EntryPoint Capital LLC purchased a new stake in CoreCivic in the first quarter valued at approximately $84,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in CoreCivic in the first quarter valued at approximately $87,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Insiders Place Their Bets

In other CoreCivic news, CEO Damon T. Hininger sold 31,996 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total value of $399,950.00. Following the completion of the transaction, the chief executive officer now directly owns 788,266 shares in the company, valued at approximately $9,853,325. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other CoreCivic news, CEO Damon T. Hininger sold 31,996 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total value of $399,950.00. Following the completion of the transaction, the chief executive officer now directly owns 788,266 shares in the company, valued at approximately $9,853,325. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David K. Churchill sold 15,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.61, for a total transaction of $204,150.00. Following the completion of the transaction, the insider now owns 214,056 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 119,996 shares of company stock worth $1,549,940. 1.89% of the stock is 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.