Shares of Corrections Corp. of America (NYSE:CXW) have been given a consensus rating of “Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $34.25.

CXW has been the topic of several research reports. Canaccord Genuity set a $36.00 price objective on shares of Corrections Corp. of America and gave the company a “buy” rating in a report on Monday, August 7th. Zacks Investment Research raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Friday, August 4th. ValuEngine raised 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 cut their price target on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th.

WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/12/corrections-corp-of-america-cxw-receives-average-recommendation-of-buy-from-analysts.html.

In other news, Director Thurgood Marshall, Jr. sold 2,360 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $61,124.00. Following the completion of the sale, the director now owns 31,083 shares of the company’s stock, valued at $805,049.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kim White sold 5,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $26.27, for a total transaction of $131,350.00. Following the sale, the executive vice president now directly owns 22,393 shares of the company’s stock, valued at approximately $588,264.11. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock valued at $451,474 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its stake in shares of Corrections Corp. of America by 115.0% during 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. Oppenheimer Asset Management Inc. purchased a new stake in shares of Corrections Corp. of America during the first quarter worth about $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Corrections Corp. of America by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 452 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Corrections Corp. of America during the first quarter worth about $123,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Corrections Corp. of America during the first quarter worth about $162,000. 86.17% of the stock is owned by institutional investors and hedge funds.

Corrections Corp. of America (CXW) opened at 25.98 on Thursday. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.33. The company’s 50-day moving average price is $25.98 and its 200-day moving average price is $28.84. The stock has a market cap of $3.07 billion, a P/E ratio of 14.46 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.23. The company had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. Corrections Corp. of America’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Analysts forecast that Corrections Corp. of America will post $1.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.47%. Corrections Corp. of America’s payout ratio is currently 93.86%.

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.

Receive News & Ratings for Corrections Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corrections Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.