Could prison companies get a boost from Trump's immigration policies? [CBS News]
CoreCivic, Inc. (CXW)
Last corecivic, inc. earnings: 2/12 04:15 pm
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Source: CBS News
CoreCivic and Geo Group, the two biggest private prison operators in the U.S., both contract with the U.S. Immigration and Customs Enforcement (ICE) to house detained, undocumented migrants. Their stocks soared Wednesday following Trump's election win, with investors betting the companies will see increased profits from a tough-on-immigration administration. CoreCivic, which closed at $13.50 a share on November 5, is trading at $22 a share, while Geo Group, which closed at $15 a share Tuesday, is currently trading at $23.75. "Obviously, investors believe there is going to be a significant increase in opportunity for both of these firms under the Trump administration," Noble Capital Markets analyst Joe Gomes told CBS MoneyWatch. Geo Group executives acknowledged on the company's third-quarter earnings call Thursday that it expects the incoming administration to enact stricter border security policies and that the company stands "ready to provide additional resources to help ICE
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CXW
News
- Private prison firms contributed more than $1M to Trump's reelection. Now they expect a business boom [Yahoo! Finance]Yahoo! Finance
- Mass detention and returning migrants to Mexico: Donald Trump's plans on immigration are coming into focus [CNN]CNN
- Mass detention and returning migrants to Mexico: Donald Trump's plans on immigration are coming into focus [CNN]CNN
- Why stock in Tennessee private prison operator CoreCivic is on the rise post-Trump reelection [Yahoo! Finance]Yahoo! Finance
- Shareholders Will Be Pleased With The Quality of CoreCivic's (NYSE:CXW) Earnings [Yahoo! Finance]Yahoo! Finance
CXW
Earnings
- 11/6/24 - Miss
CXW
Sec Filings
- 11/20/24 - Form 4
- 11/20/24 - Form SC
- 11/20/24 - Form 144
- CXW's page on the SEC website