CoreCivic (NYSE:CXW) Sets New 1-Year High – Here’s What Happened

Shares of CoreCivic, Inc. (NYSE:CXW) hit a new 52-week high during trading on Tuesday . The stock traded as high as $30.45 and last traded at $29.66, with a volume of 1876687 shares changing hands. The stock had previously closed at $28.90.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings cut shares of CoreCivic from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. Benchmark initiated coverage on shares of CoreCivic in a research note on Tuesday, March 24th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Wall Street Zen cut shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, CoreCivic currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

CoreCivic Price Performance

The stock has a market cap of $2.93 billion, a P/E ratio of 24.11 and a beta of 0.67. The business has a 50 day simple moving average of $22.29 and a 200-day simple moving average of $20.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.44 and a current ratio of 2.44.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The business had revenue of $614.73 million for the quarter, compared to the consensus estimate of $604.48 million. CoreCivic had a return on equity of 9.29% and a net margin of 5.53%.The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. CoreCivic has set its FY 2026 guidance at 2.580-2.680 EPS. On average, sell-side analysts forecast that CoreCivic, Inc. will post 2.66 EPS for the current year.

Institutional Trading of CoreCivic

Several hedge funds have recently added to or reduced their stakes in CXW. NBC Securities Inc. boosted its stake in CoreCivic by 533.9% in the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 1,228 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of CoreCivic during the 4th quarter worth approximately $57,000. Smartleaf Asset Management LLC increased its stake in shares of CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 702 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of CoreCivic by 320.7% in the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of CoreCivic in the 4th quarter worth approximately $71,000. Institutional investors own 85.13% of the company’s stock.

CoreCivic Company Profile

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.