Equities Analysts Offer Predictions for Corrections Corp. of America’s Q3 2017 Earnings (CXW)

Corrections Corp. of America (NYSE:CXW) – Stock analysts at SunTrust Banks cut their Q3 2017 earnings estimates for shares of Corrections Corp. of America in a report released on Tuesday. SunTrust Banks analyst T. Sommer now forecasts that the real estate investment trust will post earnings of $0.53 per share for the quarter, down from their previous forecast of $0.55. SunTrust Banks also issued estimates for Corrections Corp. of America’s FY2017 earnings at $2.32 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.57 EPS and Q4 2018 earnings at $0.58 EPS.

Corrections Corp. of America (NYSE:CXW) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, topping the consensus estimate of $0.36 by $0.23. The business had revenue of $436.39 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.49 EPS.

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Other analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Canaccord Genuity set a $36.00 price objective on shares of Corrections Corp. of America and gave the stock a “buy” rating in a report on Friday, May 19th. Deutsche Bank AG raised their price objective on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Finally, Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $30.25.

Shares of Corrections Corp. of America (CXW) opened at 25.52 on Thursday. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.33. The company has a market cap of $3.02 billion, a P/E ratio of 13.43 and a beta of 0.92. The company’s 50 day moving average is $27.71 and its 200 day moving average is $30.70.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Corrections Corp. of America by 13,997.1% in the first quarter. BlackRock Inc. now owns 10,765,267 shares of the real estate investment trust’s stock valued at $338,241,000 after buying an additional 10,688,902 shares during the last quarter. FMR LLC increased its position in Corrections Corp. of America by 108.8% in the first quarter. FMR LLC now owns 7,127,278 shares of the real estate investment trust’s stock valued at $223,939,000 after buying an additional 3,713,585 shares during the last quarter. State Street Corp acquired a new position in Corrections Corp. of America during the first quarter valued at $100,342,000. Daiwa Securities Group Inc. increased its position in Corrections Corp. of America by 39,326.9% in the first quarter. Daiwa Securities Group Inc. now owns 2,694,827 shares of the real estate investment trust’s stock valued at $84,671,000 after buying an additional 2,687,992 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Corrections Corp. of America during the first quarter valued at $70,703,000. Hedge funds and other institutional investors own 89.46% of the company’s stock.

In other news, EVP Anthony L. Grande sold 23,000 shares of Corrections Corp. of America stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $33.86, for a total value of $778,780.00. Following the completion of the transaction, the executive vice president now owns 39,510 shares in the company, valued at $1,337,808.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lucibeth Mayberry sold 6,236 shares of Corrections Corp. of America stock in a transaction dated 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 transaction, the executive vice president now owns 51,851 shares of the company’s stock, valued at approximately $1,576,788.91. The disclosure for this sale can be found here. Insiders have sold 34,236 shares of company stock valued at $1,121,117 in the last 90 days. 1.30% of the stock is currently owned by corporate 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.

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

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