Shares of Corrections Corp. of America (NYSE:CXW) have been given a consensus rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $30.00.

Several equities research analysts recently issued reports on the company. Deutsche Bank AG dropped their price target on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Zacks Investment Research lowered Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Canaccord Genuity set a $36.00 price target on Corrections Corp. of America and gave the company a “buy” rating in a research report on Monday, August 7th. ValuEngine lowered Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, TheStreet lowered Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st.

In other news, EVP Kim White sold 5,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $26.27, for a total value of $131,350.00. Following the completion of the transaction, the executive vice president now owns 22,393 shares of the company’s stock, valued at $588,264.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in shares of Corrections Corp. of America in the second quarter worth $583,000. Advisory Services Network LLC grew its stake in shares of Corrections Corp. of America by 115.0% in the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 2,189 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Corrections Corp. of America by 32.0% in the second quarter. Sterling Capital Management LLC now owns 109,101 shares of the real estate investment trust’s stock valued at $3,009,000 after buying an additional 26,431 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Corrections Corp. of America by 1.9% in the second quarter. Ameritas Investment Partners Inc. now owns 35,357 shares of the real estate investment trust’s stock valued at $975,000 after buying an additional 670 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Corrections Corp. of America by 8.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 629 shares during the period. 86.18% of the stock is owned by institutional investors.

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Corrections Corp. of America (NYSE CXW) opened at 26.09 on Friday. 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 capitalization of $3.08 billion, a PE ratio of 14.52 and a beta of 0.92. The firm has a 50 day moving average of $26.01 and a 200-day moving average of $29.72.

Corrections Corp. of America (NYSE:CXW) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The company had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. During the same period in the prior year, the company posted $0.49 EPS. Corrections Corp. of America’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities analysts predict that Corrections Corp. of America will post $1.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.42 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.44%. Corrections Corp. of America’s payout ratio is 93.86%.

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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