Analysts predict that Corrections Corp. of America (NYSE:CXW) will report $438.72 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Corrections Corp. of America’s earnings, with estimates ranging from $428.93 million to $449.37 million. Corrections Corp. of America posted sales of $463.33 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.3%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, August 7th.

On average, analysts expect that Corrections Corp. of America will report full-year sales of $438.72 million for the current year, with estimates ranging from $1.74 billion to $1.79 billion. For the next financial year, analysts forecast that the business will report sales of $1.76 billion per share, with estimates ranging from $1.71 billion to $1.81 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover 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, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $445.70 million for the quarter, compared to the consensus estimate of $446.12 million. Corrections Corp. of America had a return on equity of 15.42% and a net margin of 12.10%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS.

CXW has been the subject of several research analyst reports. Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Thursday, April 20th. Canaccord Genuity set a $36.00 price objective on Corrections Corp. of America and gave the company a “buy” rating in a report on Friday, May 19th. Deutsche Bank AG boosted their price objective on Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, May 15th. Finally, ValuEngine raised Corrections Corp. of America from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.50.

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Corrections Corp. of America (CXW) opened at 28.87 on Friday. The company’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 1-year low of $12.99 and a 1-year high of $35.33. The stock has a market cap of $3.41 billion, a P/E ratio of 15.19 and a beta of 0.93.

The business 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. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, June 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 88.42%.

In other news, EVP Lucibeth Mayberry sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $30.54, for a total transaction of $152,700.00. Following the completion of the transaction, the executive vice president now directly owns 45,615 shares of the company’s stock, valued at $1,393,082.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony L. Grande sold 23,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $33.86, for a total value of $778,780.00. Following the transaction, the executive vice president now directly owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The disclosure for this sale can be found here. Insiders have sold 34,236 shares of company stock valued at $1,121,117 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of CXW. Manning & Napier Advisors LLC raised its position in Corrections Corp. of America by 16.0% in the second quarter. Manning & Napier Advisors LLC now owns 372,385 shares of the real estate investment trust’s stock valued at $10,269,000 after buying an additional 51,470 shares during the period. Ranger Global Real Estate Advisors LLC raised its position in Corrections Corp. of America by 43.6% in the second quarter. Ranger Global Real Estate Advisors LLC now owns 605,787 shares of the real estate investment trust’s stock valued at $16,708,000 after buying an additional 183,916 shares during the period. State Treasurer State of Michigan raised its position in Corrections Corp. of America by 1.9% in the second quarter. State Treasurer State of Michigan now owns 48,712 shares of the real estate investment trust’s stock valued at $1,343,000 after buying an additional 900 shares during the period. Aperio Group LLC raised its position in Corrections Corp. of America by 2.8% in the second quarter. Aperio Group LLC now owns 38,377 shares of the real estate investment trust’s stock valued at $1,058,000 after buying an additional 1,054 shares during the period. Finally, Diversified Trust Co bought a new position in Corrections Corp. of America during the second quarter valued at approximately $1,178,000. 87.49% of the stock is owned by 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.

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