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

A number of research firms have recently weighed in on CXW. Zacks Investment Research raised Corrections Corp. of America from a hold rating to a buy rating and set a $37.00 price objective for the company in a research note on Thursday, April 20th. Canaccord Genuity reaffirmed a buy rating and issued a $34.00 price objective on shares of Corrections Corp. of America in a research note on Wednesday, May 3rd. BidaskClub lowered Corrections Corp. of America from a hold rating to a sell rating in a research note on Wednesday, June 21st. Finally, ValuEngine raised Corrections Corp. of America from a hold rating to a buy rating in a research note on Saturday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $31.50.

Corrections Corp. of America (NYSE:CXW) opened at 25.96 on Tuesday. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.33. The company’s 50-day moving average price is $28.12 and its 200-day moving average price is $30.81. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 13.66 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 15.42% and a net margin of 12.10%. The company had revenue of $436.39 million during the quarter, compared to analyst estimates of $437.92 million. During the same period in the previous year, the business earned $0.49 EPS. Corrections Corp. of America’s quarterly revenue was down 5.8% on a year-over-year basis. Equities analysts forecast that Corrections Corp. of America will post $1.53 earnings per share for the current fiscal year.

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

In other Corrections Corp. of America news, EVP Lucibeth Mayberry sold 6,236 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $30.41, for a total transaction of $189,636.76. Following the completion of the sale, the executive vice president now directly owns 51,851 shares in the company, valued at approximately $1,576,788.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Anthony L. Grande sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $33.86, for a total value of $778,780.00. Following the sale, the executive vice president now owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,236 shares of company stock valued at $1,121,117. 1.30% of the stock is owned by company insiders.

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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.

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