Corrections Corp. of America (NYSE:CXW) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.52-0.54 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.57. Corrections Corp. of America also updated its FY17 guidance to $2.31-2.35 EPS.

Several research analysts recently commented on the stock. 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 on the stock in a report on Thursday, April 20th. Canaccord Genuity reiterated a buy rating and issued a $34.00 target price on shares of Corrections Corp. of America in a report on Wednesday, May 3rd. BidaskClub downgraded shares of Corrections Corp. of America from a hold rating to a sell rating in a report on Wednesday, June 21st. ValuEngine upgraded shares of Corrections Corp. of America from a hold rating to a buy rating in a report on Saturday, July 8th. Finally, Deutsche Bank AG lifted 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Corrections Corp. of America currently has an average rating of Buy and an average price target of $31.50.

Corrections Corp. of America (CXW) traded down 4.56% during mid-day trading on Monday, reaching $25.96. 1,573,397 shares of the company’s stock traded hands. The firm has a 50 day moving average of $28.12 and a 200 day moving average of $30.81. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33. The firm has a market cap of $3.07 billion, a PE ratio of 13.66 and a beta of 0.92. Corrections Corp. of America also was the target of some unusual options trading activity on Friday. Stock traders bought 10,027 put options on the stock. This represents an increase of 1,764% compared to the typical daily volume of 538 put options.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were paid a $0.42 dividend. The ex-dividend date was Thursday, June 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.47%. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 88.42%.

In related news, EVP Lucibeth Mayberry sold 6,236 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $30.41, for a total value of $189,636.76. Following the transaction, the executive vice president now directly owns 51,851 shares in the company, valued at $1,576,788.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony L. Grande sold 23,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 39,510 shares in the company, valued at $1,337,808.60. The disclosure for this sale can be found here. Insiders sold 34,236 shares of company stock worth $1,121,117 over the last 90 days. 1.30% of the stock is currently owned by corporate 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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