
CoreCivic (CXW) Stock Forecast & Price Target
CoreCivic (CXW) Analyst Ratings
Bulls say
CoreCivic Inc. has revised its fiscal year 2024 guidance higher, projecting adjusted earnings per share (EPS) of $0.69-$0.75, normalized funds from operations (FFO) of $1.59-$1.65, and adjusted EBITDA of $317-$321 million, reflecting strong occupancy and improved profitability expectations. The company anticipates a significant increase in demand due to historical trends in corrections and expected increases in Immigration and Customs Enforcement (ICE) appropriations, further supported by beneficial political dynamics. With occupancy rates poised to rise from the current level of 75%, along with a substantial number of idle beds, CoreCivic is well-positioned for growth in the coming years as it aligns with the priorities of key governmental customers.
Bears say
CoreCivic Inc faces significant challenges that contribute to a negative outlook on its stock primarily due to funding and Environmental, Social, and Governance (ESG) risks, as concerns surrounding the company's reputation may hinder its ability to secure debt and equity financing. Additionally, the company is at risk of losing contracts with government authorities, which could result in reduced revenues and earnings. Furthermore, fluctuations in interest rates may impact returns for common shareholders, compounding the financial uncertainties associated with the political controversy surrounding private correctional facilities.
This aggregate rating is based on analysts' research of CoreCivic and is not a guaranteed prediction by Public.com or investment advice.
CoreCivic (CXW) Analyst Forecast & Price Prediction
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