Corrections Corp. of America (NYSE:CXW) is scheduled to be announcing its earnings results after the market closes on Monday, August 7th. Analysts expect the company to announce earnings of $0.36 per share for the quarter.
Corrections Corp. of America (NYSE:CXW) last released its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $445.70 million during the quarter, compared to analyst estimates of $446.12 million. Corrections Corp. of America had a return on equity of 15.42% and a net margin of 12.10%. Corrections Corp. of America’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. On average, analysts expect Corrections Corp. of America to post $2.29 EPS for the current fiscal year and $2.25 EPS for the next fiscal year.
Corrections Corp. of America (CXW) opened at 27.20 on Friday. The stock has a 50 day moving average price of $28.12 and a 200 day moving average price of $30.81. Corrections Corp. of America has a 12-month low of $12.99 and a 12-month high of $35.33. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 14.32 and a beta of 0.92.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, June 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.18%. Corrections Corp. of America’s payout ratio is 88.42%.
Several equities analysts have recently issued reports on CXW shares. Canaccord Genuity reiterated a “buy” rating and set a $34.00 target price on shares of Corrections Corp. of America in a report on Monday, April 10th. Zacks Investment Research lowered shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Finally, Deutsche Bank AG lifted their target price on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Corrections Corp. of America presently has a consensus rating of “Buy” and a consensus price target of $31.50.
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In related news, EVP Lucibeth Mayberry sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $30.54, for a total value of $152,700.00. Following the completion of the transaction, the executive vice president now directly owns 45,615 shares in the company, valued at approximately $1,393,082.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony L. Grande sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $33.86, for a total transaction of $778,780.00. Following the completion of the transaction, the executive vice president now owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,236 shares of company stock valued at $1,121,117. 1.30% of the stock is owned by company 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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