News headlines about Corrections Corp. of America (NYSE:CXW) have been trending positive on Saturday, Accern Sentiment reports. The research group rates the sentiment of media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Corrections Corp. of America earned a daily sentiment score of 0.25 on Accern’s scale. Accern also gave news stories about the real estate investment trust an impact score of 47.5859153211177 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have effected Accern’s analysis:
- CoreCivic, Inc. (NYSE:CXW) Stock Closed -8.1% Below Its 50 Day Average – Modern Readers (modernreaders.com)
- Corrections Corp. of America Declares Quarterly Dividend of $0.42 (CXW) (americanbankingnews.com)
- SunTrust Banks Comments on Corrections Corp. of America’s Q4 2017 Earnings (CXW) (americanbankingnews.com)
- Q3 2017 EPS Estimates for Corrections Corp. of America (NYSE:CXW) Decreased by Analyst (americanbankingnews.com)
- CoreCivic, Inc. (NYSE:CXW) Files An 8-K Results of Operations and Financial Condition (4-traders.com)
Corrections Corp. of America (NYSE:CXW) traded up 2.32% on Friday, reaching $25.99. The company had a trading volume of 1,063,761 shares. 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 $3.07 billion, a price-to-earnings ratio of 14.46 and a beta of 0.92. The company’s 50 day moving average price is $27.58 and its 200-day moving average price is $30.65.
Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The business had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts predict that Corrections Corp. of America will post $1.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.68 dividend on an annualized basis and a yield of 6.46%. Corrections Corp. of America’s dividend payout ratio is presently 93.86%.
A number of research firms recently issued reports on CXW. Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Thursday, April 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $34.00 target price on shares of Corrections Corp. of America in a report on Wednesday, May 3rd. BidaskClub lowered Corrections Corp. of America from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Deutsche Bank AG lowered their target price on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, ValuEngine raised Corrections Corp. of America from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.25.
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In related news, EVP Lucibeth Mayberry sold 5,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $30.54, for a total value of $152,700.00. Following the completion of the sale, the executive vice president now owns 45,615 shares in the company, valued at $1,393,082.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony L. Grande sold 23,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $33.86, for a total value of $778,780.00. Following the completion of the sale, the executive vice president now owns 39,510 shares of the company’s stock, valued at approximately $1,337,808.60. The disclosure for this sale can be found here. Insiders sold 34,236 shares of company stock valued at $1,121,117 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
Corrections Corp. of America Company Profile
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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