Corrections Corp. of America (CXW) Scheduled to Post Quarterly Earnings on Wednesday
Corrections Corp. of America (NYSE:CXW) is set to announce its earnings results after the market closes on Wednesday, November 8th. Analysts expect the company to announce earnings of $0.33 per share for the quarter.
Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts expect Corrections Corp. of America to post $2.33 EPS for the current fiscal year and $2.25 EPS for the next fiscal year.
Corrections Corp. of America (NYSE CXW) opened at 24.66 on Wednesday. The stock has a market capitalization of $2.91 billion, a PE ratio of 13.72 and a beta of 0.92. Corrections Corp. of America has a 12-month low of $13.83 and a 12-month high of $35.33. The stock has a 50 day moving average price of $25.76 and a 200-day moving average price of $28.19.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were issued a $0.42 dividend. The ex-dividend date was Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.81%. Corrections Corp. of America’s dividend payout ratio (DPR) is 93.86%.
Several equities research analysts have recently issued reports on CXW shares. Canaccord Genuity set a $36.00 target price on Corrections Corp. of America and gave the stock a “buy” rating in a report on Monday, August 7th. Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, August 4th. ValuEngine raised Corrections Corp. of America from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Deutsche Bank AG reduced their target price on 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $34.25.
In related news, CFO David Garfinkle sold 10,000 shares of Corrections Corp. of America stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $26.01, for a total value of $260,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Emkes purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $25.62 per share, with a total value of $128,100.00. Following the transaction, the director now owns 44,426 shares of the company’s stock, valued at approximately $1,138,194.12. The disclosure for this purchase can be found here. In the last quarter, insiders sold 27,360 shares of company stock valued at $711,574. 1.30% of the stock is currently owned by company insiders.
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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