Corrections Corp. of America (NYSE:CXW) – Investment analysts at SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for shares of Corrections Corp. of America in a note issued to investors on Thursday. SunTrust Banks analyst T. Sommer now expects that the real estate investment trust will post earnings of $2.33 per share for the year, up from their previous forecast of $2.32. SunTrust Banks has a “Buy” rating and a $37.00 price target on the stock. SunTrust Banks also issued estimates for Corrections Corp. of America’s Q4 2018 earnings at $0.57 EPS.
Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. Corrections Corp. of America had a return on equity of 13.54% and a net margin of 11.03%. The firm had revenue of $442.80 million for the quarter, compared to analysts’ expectations of $437.18 million. During the same period in the previous year, the firm earned $0.69 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis.
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A number of other research firms have also recently weighed in on CXW. Zacks Investment Research cut Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. TheStreet cut Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub cut Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Canaccord Genuity set a $36.00 price target on Corrections Corp. of America and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, ValuEngine raised Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $34.25.
Corrections Corp. of America (CXW) opened at $24.37 on Monday. Corrections Corp. of America has a 12-month low of $19.79 and a 12-month high of $35.33. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $2,909.00, a PE ratio of 9.88, a PEG ratio of 1.76 and a beta of 0.91.
Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC increased its stake in Corrections Corp. of America by 115.0% in the 2nd quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 2,189 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Corrections Corp. of America in the 1st quarter worth approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Corrections Corp. of America by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 452 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Corrections Corp. of America in the 2nd quarter worth approximately $173,000. Finally, Parametrica Management Ltd bought a new stake in Corrections Corp. of America in the 2nd quarter worth approximately $201,000. 84.78% of the stock is currently owned by institutional investors and hedge funds.
In other Corrections Corp. of America news, Director Thurgood Marshall, Jr. sold 2,360 shares of Corrections Corp. of America 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 sale, the director now owns 31,083 shares of the company’s stock, valued at approximately $805,049.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Garfinkle sold 10,000 shares of Corrections Corp. of America stock in a transaction that occurred on Monday, October 16th. The stock was 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. Over the last three months, insiders sold 22,360 shares of company stock worth $580,224. 1.30% of the stock is owned by insiders.
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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