Noble Financial Raises Earnings Estimates for CoreCivic

CoreCivic, Inc. (NYSE:CXW) – Stock analysts at Noble Financial raised their FY2026 earnings per share (EPS) estimates for CoreCivic in a research note issued to investors on Monday, November 9th. Noble Financial analyst J. Gomes now anticipates that the real estate investment trust will post earnings of $2.81 per share for the year, up from their prior estimate of $2.70. Noble Financial currently has an “Outperform” rating on the stock. The consensus estimate for CoreCivic’s current full-year earnings is $2.82 per share.

CXW has been the subject of a number of other reports. Wall Street Zen cut shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. TD Cowen restated a “hold” rating on shares of CoreCivic in a research report on Friday, October 23rd. Benchmark upped their target price on shares of CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings downgraded shares of CoreCivic from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 28th. Finally, JonesTrading reiterated a “buy” rating and issued a $42.00 price target on shares of CoreCivic in a research report on Friday, September 18th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.40.

CoreCivic Price Performance

CXW stock opened at $31.60 on Wednesday. CoreCivic has a 52 week low of $15.73 and a 52 week high of $36.55. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $32.21 and a two-hundred day simple moving average of $26.09. The firm has a market capitalization of $3.12 billion, a P/E ratio of 2.04 and a beta of 0.63.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $15.14 by ($14.65). CoreCivic had a net margin of 54.60% and a return on equity of 9.27%. The business had revenue of $744.09 million during the quarter, compared to analysts’ expectations of $697.55 million. During the same period last year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year.

Institutional Trading of CoreCivic

A number of large investors have recently made changes to their positions in the stock. Ieq Capital LLC lifted its holdings in CoreCivic by 21.4% during the 3rd quarter. Ieq Capital LLC now owns 8,431 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 1,484 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in CoreCivic in the 3rd quarter valued at about $12,081,000. Global Retirement Partners LLC boosted its position in CoreCivic by 338.9% in the 3rd quarter. Global Retirement Partners LLC now owns 2,164 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 1,671 shares during the period. Russell Investments Group Ltd. boosted its position in CoreCivic by 21.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 64,880 shares of the real estate investment trust’s stock valued at $2,092,000 after buying an additional 11,238 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in CoreCivic by 52.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 22,079 shares of the real estate investment trust’s stock worth $712,000 after acquiring an additional 7,604 shares in the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CoreCivic news, CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $33.96, for a total transaction of $1,698,000.00. Following the completion of the transaction, the chief financial officer owned 293,353 shares in the company, valued at $9,962,267.88. The trade was a 14.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony Grande sold 29,199 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.61, for a total value of $981,378.39. Following the transaction, the executive vice president owned 164,782 shares of the company’s stock, valued at approximately $5,538,323.02. The trade was a 15.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 328,019 shares of company stock worth $11,054,126 in the last 90 days. Company insiders own 1.76% of the company’s stock.

CoreCivic declared that its Board of Directors has approved a share buyback program on Monday, August 10th that authorizes the company to buy back $500 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 15.7% of its shares through open market purchases. Share buyback programs are generally an indication that the company’s management believes its shares are undervalued.

CoreCivic Company Profile

CoreCivic, Inc. is a U.S. corrections and government-services company that operates correctional and detention facilities under contracts with federal, state and local government agencies. Its services include facility management and related support for people in custody. The company also provides residential reentry services, including transitional housing and programs intended to help people return to their communities. Through its real estate business, CoreCivic owns and develops correctional and detention properties that government agencies may lease.