Corrections Corp Of America Shares Up 3.8% Following Earnings Beat (CXW)
Corrections Corp Of America (NYSE:CXW) shares shot up 3.8% during trading on Thursday after the company announced better than expected quarterly earnings, American Banking & Market News reports. The company traded as high as $34.54 and last traded at $34.36, with a volume of 567,632 shares traded. The stock had previously closed at $33.09.
The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.03. The company had revenue of $410.69 million for the quarter, compared to the consensus estimate of $407.99 million. During the same quarter last year, the company posted $0.52 earnings per share. Corrections Corp Of America’s revenue was down 3.4% compared to the same quarter last year.
The stock’s 50-day moving average is $33.14 and its 200-day moving average is $32.81. The company has a market cap of $3.993 billion and a price-to-earnings ratio of 22.33.
Corrections Corporation of America (NYSE:CXW) is a real estate investment trust.
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