Corrections Corp. of America (CXW) Set to Announce Quarterly Earnings on Tuesday
Corrections Corp. of America (NYSE:CXW) will be announcing its earnings results after the market closes on Tuesday, August 1st. Analysts expect the company to announce earnings of $0.36 per share for the quarter. Corrections Corp. of America has set its Q2 guidance at $0.54-0.55 EPS.
Corrections Corp. of America (NYSE:CXW) last announced its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $445.70 million for the quarter, compared to analyst estimates of $446.12 million. Corrections Corp. of America had a return on equity of 15.42% and a net margin of 12.10%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. On average, analysts expect Corrections Corp. of America to post $2.28 EPS for the current fiscal year and $2.25 EPS for the next fiscal year.
Shares of Corrections Corp. of America (NYSE:CXW) opened at 28.50 on Tuesday. The stock’s 50 day moving average price is $28.51 and its 200 day moving average price is $30.74. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.33. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 15.00 and a beta of 0.93.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.89%. The ex-dividend date was Thursday, June 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 88.42%.
A number of analysts recently weighed in on CXW shares. Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Thursday, April 20th. Canaccord Genuity set a $36.00 target price on shares of Corrections Corp. of America and gave the stock a “buy” rating in a report on Friday, May 19th. Deutsche Bank AG raised their target price on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Finally, ValuEngine upgraded shares of 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 assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.50.
In related news, EVP Anthony L. Grande sold 23,000 shares of the firm’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 transaction of $778,780.00. Following the completion of the sale, the executive vice president now directly owns 39,510 shares in the company, valued at $1,337,808.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lucibeth Mayberry sold 6,236 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $30.41, for a total transaction of $189,636.76. Following the sale, the executive vice president now owns 51,851 shares of the company’s stock, valued at $1,576,788.91. 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 90 days. 1.30% of the stock is currently owned by insiders.
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About Corrections Corp. of America
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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