Brokers Issue Forecasts for Corrections Corp. of America’s FY2017 Earnings (CXW)

Corrections Corp. of America (NYSE:CXW) – Stock analysts at SunTrust Banks upped their FY2017 EPS estimates for Corrections Corp. of America in a report released on Thursday. SunTrust Banks analyst T. Sommer now anticipates that the real estate investment trust will earn $2.33 per share for the year, up from their previous 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.

Corrections Corp. of America (NYSE:CXW) last posted its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. Corrections Corp. of America had a net margin of 11.03% and a return on equity of 13.54%. The company had revenue of $442.80 million for the quarter, compared to analyst estimates of $437.18 million. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year.

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Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine upgraded shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $34.25.

Shares of Corrections Corp. of America (NYSE CXW) opened at $24.61 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10. Corrections Corp. of America has a fifty-two week low of $19.15 and a fifty-two week high of $35.33. The firm has a market cap of $2,909.00, a PE ratio of 9.88, a P/E/G ratio of 1.76 and a beta of 0.91.

In other news, Director Thurgood Marshall, Jr. sold 2,360 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $61,124.00. Following the completion of the transaction, the director now directly owns 31,083 shares of the company’s stock, valued at approximately $805,049.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Garfinkle sold 10,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $259,000.00. Following the transaction, the chief financial officer now directly owns 90,114 shares of the company’s stock, valued at $2,333,952.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,360 shares of company stock valued at $580,224. Company insiders own 1.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of Corrections Corp. of America during the 1st quarter valued at approximately $116,000. Advisory Services Network LLC grew its position in shares of Corrections Corp. of America by 115.0% during the 2nd quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 2,189 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Corrections Corp. of America by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 452 shares during the period. NN Investment Partners Holdings N.V. bought a new position in shares of Corrections Corp. of America during the 2nd quarter valued at approximately $173,000. Finally, Parametrica Management Ltd bought a new position in shares of Corrections Corp. of America during the 2nd quarter valued at approximately $201,000. 84.78% of the stock is owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Corrections Corp. of America (NYSE:CXW)

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