Key Points
- CoreCivic CFO David Garfinkle sold 50,000 shares at an average price of $33.96, generating proceeds of approximately $1.70 million and reducing his ownership by 14.56% to 293,353 shares.
- CoreCivic recently reported quarterly EPS of $0.38, beating estimates of $0.34, while revenue rose 27.3% year over year to $684.92 million.
- The company authorized a $500 million share-repurchase program covering up to 15.7% of outstanding shares. Analysts maintain a consensus “Buy” rating with a $37 price target, compared with the stock’s $34 opening price.
CoreCivic, Inc. (NYSE:CXW - Get Free Report) Director John Prann, Jr. sold 22,298 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $34.00, for a total value of $758,132.00. Following the sale, the director directly owned 8,098 shares of the company's stock, valued at $275,332. The trade was a 73.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
CoreCivic Trading Up 1.5%
Shares of CXW stock opened at $34.00 on Friday. The company has a market capitalization of $3.36 billion, a P/E ratio of 27.20 and a beta of 0.58. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $31.00 and its two-hundred day moving average is $23.86. CoreCivic, Inc. has a twelve month low of $15.73 and a twelve month high of $34.86.
CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The business had revenue of $684.92 million during the quarter, compared to analysts' expectations of $618.63 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company's quarterly revenue was up 27.3% compared to the same quarter last year. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Equities analysts forecast that CoreCivic, Inc. will post 2.69 EPS for the current year.
CoreCivic declared that its board has authorized a share repurchase plan on Monday, August 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
CXW has been the subject of a number of analyst reports. UBS Group set a $35.00 price objective on shares of CoreCivic in a research report on Tuesday, July 7th. Weiss Ratings raised shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Noble Financial reiterated an "outperform" rating on shares of CoreCivic in a research note on Monday, August 10th. Benchmark boosted their price target on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, JonesTrading reissued a "buy" rating and set a $30.00 price target on shares of CoreCivic in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $37.00.
Get Our Latest Analysis on CoreCivic
Institutional Investors Weigh In On CoreCivic
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of CoreCivic during the 2nd quarter worth $480,557,000. Vanguard Group Inc. increased its holdings in shares of CoreCivic by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock valued at $242,955,000 after purchasing an additional 138,846 shares in the last quarter. River Road Asset Management LLC increased its holdings in shares of CoreCivic by 3.3% in the 4th quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust's stock valued at $171,574,000 after purchasing an additional 287,108 shares in the last quarter. Lee Danner & Bass Inc. lifted its stake in shares of CoreCivic by 273.1% in the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust's stock valued at $41,101,000 after purchasing an additional 1,590,940 shares during the period. Finally, Rubric Capital Management LP lifted its stake in shares of CoreCivic by 5.0% in the first quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust's stock valued at $38,940,000 after purchasing an additional 97,770 shares during the period. Institutional investors and hedge funds own 85.13% of the company's stock.
CoreCivic Company Profile
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Get Free Report)
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.
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