Wall Street brokerages expect Corrections Corp. of America (NYSE:CXW) to report $0.53 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for Corrections Corp. of America’s earnings. Corrections Corp. of America reported earnings of $0.69 per share during the same quarter last year, which indicates a negative year over year growth rate of 23.2%. The firm is expected to report its next earnings results after the market closes on Monday, August 7th.

On average, analysts expect that Corrections Corp. of America will report full year earnings of $2.28 per share for the current fiscal year, with EPS estimates ranging from $2.27 to $2.28. For the next year, analysts expect that the firm will post earnings of $2.25 per share, with EPS estimates ranging from $2.22 to $2.28. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Corrections Corp. of America.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. Corrections Corp. of America had a net margin of 12.10% and a return on equity of 15.42%. The company had revenue of $445.70 million during the quarter, compared to analysts’ expectations of $446.12 million. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year.

CXW has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Canaccord Genuity reiterated a “buy” rating and set a $34.00 price objective on shares of Corrections Corp. of America in a research report on Monday, March 27th. Deutsche Bank AG upped their price objective on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Finally, BidaskClub cut shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. One 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. The stock has an average rating of “Hold” and an average price target of $32.50.

Corrections Corp. of America (CXW) traded down 0.55% during midday trading on Friday, hitting $28.87. 471,358 shares of the company traded hands. The stock’s 50-day moving average price is $28.56 and its 200 day moving average price is $30.64. 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 $3.41 billion, a price-to-earnings ratio of 15.19 and a beta of 0.93.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, June 29th. Corrections Corp. of America’s payout ratio is currently 88.42%.

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In other news, EVP Anthony L. Grande sold 23,000 shares of Corrections Corp. of America 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 transaction, the executive vice president now owns 39,510 shares in the company, valued at $1,337,808.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lucibeth Mayberry sold 6,236 shares of Corrections Corp. of America stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $30.41, for a total transaction of $189,636.76. Following the completion of the transaction, the executive vice president now owns 51,851 shares of the company’s stock, valued at approximately $1,576,788.91. The disclosure for this sale can be found here. Insiders have sold 34,236 shares of company stock worth $1,121,117 over the last three months. 1.30% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. TLP Group LLC purchased a new position in Corrections Corp. of America during the first quarter worth approximately $113,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Corrections Corp. of America during the first quarter valued at about $116,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Corrections Corp. of America during the first quarter valued at about $123,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Corrections Corp. of America during the first quarter valued at about $126,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Corrections Corp. of America during the first quarter valued at about $162,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.

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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