Movers and SHAKERS
CoreCivic, Inc. (CXW)
A Solution to USMS Renewals? Room for Optimism?
CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Kevin Wahle, Research Intern, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Potential Solution. Yesterday afternoon local news reported that an agreement had been reached to keep USMS inmates in CoreCivic's Northeast Ohio facility. While we have not been able to confirm the USMS signed off on the agreement, if the USMS signs off on this, it would remove a significant obstacle for CoreCivic, in our view.
The Report. According to a report on ww.cleveland.com, the Mahoning County commissioners approved a three-year contract with CoreCivic. In essence, the county Sheriff's office would contract with CoreCivic to monitor the USMS inmates, with the USMS reimbursing the Sheriff's office for the cost of the contract. This provides an intermediary between the USMS and CoreCivic. Contract details were not ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.