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BRENTWOOD, Tenn. - CoreCivic, Inc. (NYSE:CXW) announced Monday its Board of Directors has authorized a $200 million increase to its existing share repurchase program, bringing the total authorization to $700 million.
The company, which provides corrections and detention management services, has already repurchased 21.5 million shares at an aggregate cost of $322.1 million, or $14.98 per share, since the program began in May 2022. As of November 7, 2025, the company has $377.9 million in repurchase authorization remaining. The stock currently trades at $16.95, having fallen over 10% in the past week and more than 22% year-to-date, according to InvestingPro data.
"We remain committed to deploying capital in ways that we believe will enhance long-term shareholder value," said Damon T. Hininger, CoreCivic's Chief Executive Officer, in a press release statement.
Patrick D. Swindle, CoreCivic's President and Chief Operating Officer, noted the company is prioritizing allocation of cash flows to the share repurchase program, citing the company's "earnings trajectory, alternative opportunities to deploy capital, and our current share price." With a P/E ratio of 16.88 and a notably low PEG ratio of 0.33, InvestingPro analysis indicates the stock appears undervalued compared to its growth potential.
CoreCivic describes itself as the nation's largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States. The company provides a range of government solutions including corrections management, alternatives to incarceration, and government real estate services.
The expanded share repurchase program comes as the company reports recent contract awards and what it characterizes as overall strength in its business operations. With a market capitalization of $1.77 billion and analyst price targets ranging from $28 to $32, significantly above current levels, investors seeking deeper insights can access the comprehensive Pro Research Report available for CoreCivic and 1,400+ other US equities through InvestingPro.
In other recent news, CoreCivic Inc. reported its third-quarter earnings for 2025, showing a mixed financial performance. The company's earnings per share (EPS) were $0.24, which fell short of the expected $0.28, resulting in a negative surprise of 14.29%. On a positive note, CoreCivic's revenue reached $580.4 million, surpassing the forecast of $544.4 million by 6.61%. Despite this revenue beat, the earnings miss raised concerns among investors. The company's stock experienced a decline in aftermarket trading. These developments highlight the challenges CoreCivic faces in meeting earnings expectations. Analysts and investors will likely continue to monitor the company's financial performance closely.
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