Corrections Corp. of America (NYSE:CXW) – Analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for Corrections Corp. of America in a research report issued to clients and investors on Thursday. SunTrust Banks analyst T. Sommer now forecasts that the real estate investment trust will post earnings of $2.33 per share for the year, up from their prior estimate of $2.32. SunTrust Banks currently has a “Buy” rating and a $37.00 target price on the stock. SunTrust Banks also issued estimates for Corrections Corp. of America’s Q4 2018 earnings at $0.57 EPS.
Several other equities analysts have also issued reports on CXW. BidaskClub lowered Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, August 4th. Canaccord Genuity set a $36.00 price objective on Corrections Corp. of America and gave the stock a “buy” rating in a research report on Monday, August 7th. Deutsche Bank AG reduced their price objective on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Finally, ValuEngine raised Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Corrections Corp. of America currently has a consensus rating of “Hold” and an average price target of $34.25.
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Shares of Corrections Corp. of America (CXW) opened at $22.92 on Monday. The firm has a market capitalization of $2,880.64, a P/E ratio of 9.79, a P/E/G ratio of 1.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.10. Corrections Corp. of America has a fifty-two week low of $19.79 and a fifty-two week high of $35.33.
Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The business had revenue of $442.80 million during the quarter, compared to analysts’ expectations of $437.18 million. Corrections Corp. of America had a return on equity of 13.54% and a net margin of 11.03%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS.
Several large investors have recently bought and sold shares of CXW. Teachers Advisors LLC raised its position in shares of Corrections Corp. of America by 29.3% in the first quarter. Teachers Advisors LLC now owns 319,500 shares of the real estate investment trust’s stock worth $10,039,000 after buying an additional 72,315 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Corrections Corp. of America by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 14,787 shares of the real estate investment trust’s stock valued at $464,000 after buying an additional 1,152 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Corrections Corp. of America during the first quarter valued at about $116,000. Paloma Partners Management Co bought a new position in shares of Corrections Corp. of America during the first quarter valued at about $231,000. Finally, Janus Capital Management LLC bought a new position in shares of Corrections Corp. of America during the first quarter valued at about $1,342,000. Hedge funds and other institutional investors own 84.78% of the company’s stock.
In related news, Director Thurgood Marshall, Jr. sold 2,360 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $61,124.00. Following the transaction, the director now owns 31,083 shares in the company, valued at $805,049.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Garfinkle sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $26.01, for a total value of $260,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,360 shares of company stock valued at $580,224 over the last three months. Corporate insiders own 1.30% of the company’s stock.
About Corrections Corp. of America
CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.
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