Wall Street analysts forecast that Corrections Corp. of America (NYSE:CXW) will post $437.18 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Corrections Corp. of America’s earnings. The lowest sales estimate is $420.98 million and the highest is $460.20 million. Corrections Corp. of America posted sales of $474.94 million during the same quarter last year, which suggests a negative year over year growth rate of 8%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, November 8th.

On average, analysts expect that Corrections Corp. of America will report full year sales of $437.18 million for the current year, with estimates ranging from $1.72 billion to $1.79 billion. For the next fiscal year, analysts expect that the business will report sales of $1.73 billion per share, with estimates ranging from $1.66 billion to $1.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Corrections Corp. of America.

Corrections Corp. of America (NYSE:CXW) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.36 by $0.23. The firm had revenue of $436.39 million during the quarter, compared to the consensus estimate of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, August 4th. ValuEngine upgraded Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Deutsche Bank AG reduced their target price on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $37.00 target price on shares of Corrections Corp. of America in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Corrections Corp. of America has an average rating of “Buy” and an average target price of $34.25.

Corrections Corp. of America (CXW) opened at 24.57 on Thursday. The company has a market capitalization of $2.90 billion, a P/E ratio of 13.67 and a beta of 0.92. The firm has a 50-day moving average price of $25.97 and a 200 day moving average price of $28.43. Corrections Corp. of America has a 52-week low of $12.99 and a 52-week high of $35.33.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend was Friday, September 29th. Corrections Corp. of America’s payout ratio is currently 93.86%.

In other news, Director Thurgood Marshall, Jr. sold 2,360 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $61,124.00. Following the completion of the transaction, the director now directly owns 31,083 shares in the company, valued at approximately $805,049.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kim White sold 5,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 27,360 shares of company stock valued at $711,574 over the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Corrections Corp. of America in the 1st quarter worth about $116,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Corrections Corp. of America in the 1st quarter worth about $123,000. Advisory Services Network LLC boosted its holdings in shares of Corrections Corp. of America by 115.0% in the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Corrections Corp. of America by 11.9% in the 2nd 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. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Corrections Corp. of America in the 2nd quarter worth about $173,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

TRADEMARK VIOLATION WARNING: This news story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/26/zacks-brokerages-expect-corrections-corp-of-america-cxw-will-post-quarterly-sales-of-437-18-million.html.

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.

Get a free copy of the Zacks research report on Corrections Corp. of America (CXW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Corrections Corp. of America (NYSE:CXW)

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.