Recent Research Analysts’ Ratings Updates for Corrections Corp. of America (CXW)

A number of firms have modified their ratings and price targets on shares of Corrections Corp. of America (NYSE: CXW) recently:

  • 8/8/2017 – Corrections Corp. of America had its price target lowered by analysts at Deutsche Bank AG from $40.00 to $35.00. They now have a “buy” rating on the stock.
  • 8/7/2017 – Corrections Corp. of America was given a new $36.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 8/7/2017 – Corrections Corp. of America was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “
  • 8/4/2017 – Corrections Corp. of America was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “
  • 8/1/2017 – Corrections Corp. of America was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/8/2017 – Corrections Corp. of America was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/4/2017 – Corrections Corp. of America was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “
  • 6/21/2017 – Corrections Corp. of America was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/14/2017 – Corrections Corp. of America was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $34.00 price target on the stock. According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

Corrections Corp. of America (NYSE:CXW) traded down 3.00% on Wednesday, reaching $25.54. 226,109 shares of the company were exchanged. Corrections Corp. of America has a 12-month low of $12.99 and a 12-month high of $35.33. The stock has a market capitalization of $3.02 billion, a P/E ratio of 13.44 and a beta of 0.92. The company’s 50-day moving average price is $27.89 and its 200-day moving average price is $30.72.

Corrections Corp. of America (NYSE:CXW) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.23. The business had revenue of $436.39 million during 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 14.56%. Corrections Corp. of America’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. Equities research analysts anticipate that Corrections Corp. of America will post $1.54 earnings per share for the current fiscal year.

The firm also recently declared 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 dividend on an annualized basis and a yield of 6.38%. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 93.86%.

In other Corrections Corp. of America news, EVP Lucibeth Mayberry sold 5,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $30.54, for a total transaction of $152,700.00. Following the completion of the sale, the executive vice president now owns 45,615 shares in the company, valued at approximately $1,393,082.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 23,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $33.86, for a total transaction of $778,780.00. Following the sale, the executive vice president now owns 39,510 shares of the company’s stock, valued at approximately $1,337,808.60. The disclosure for this sale can be found here. Insiders have sold a total of 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 company insiders.

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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