Analysts expect Corrections Corp. of America (NYSE:CXW) to announce earnings per share (EPS) of $0.54 for the current quarter, Zacks reports. Three analysts have issued estimates for Corrections Corp. of America’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.54. Corrections Corp. of America reported earnings of $0.47 per share during the same quarter last year, which suggests a positive year over year growth rate of 14.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.

On average, analysts expect that Corrections Corp. of America will report full-year earnings of $2.33 per share for the current financial year, with EPS estimates ranging from $2.32 to $2.33. For the next fiscal year, analysts anticipate that the business will post earnings of $2.25 per share, with EPS estimates ranging from $2.21 to $2.28. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Corrections Corp. of America.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly 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. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. The business had revenue of $436.39 million for the quarter, compared to analysts’ expectations of $437.92 million. During the same period in the previous year, the company posted $0.49 EPS. Corrections Corp. of America’s revenue was down 5.8% on a year-over-year basis.

A number of equities analysts have weighed in on CXW shares. BidaskClub lowered shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. ValuEngine upgraded shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Corrections Corp. of America has an average rating of “Buy” and an average price target of $34.25.

Corrections Corp. of America (NYSE CXW) traded up 0.96% during trading on Thursday, hitting $26.19. 497,807 shares of the stock traded hands. The company’s 50 day moving average is $25.81 and its 200 day moving average is $29.06. The company has a market capitalization of $3.10 billion, a P/E ratio of 14.57 and a beta of 0.92. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.33.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend is Friday, September 29th. Corrections Corp. of America’s dividend payout ratio is currently 93.86%.

In related news, Director Mark A. Emkes bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $25.62 per share, with a total value of $128,100.00. Following the completion of the purchase, the director now directly owns 44,426 shares of the company’s stock, valued at approximately $1,138,194.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $61,124.00. Following the completion of the sale, the director now directly owns 31,083 shares in the company, valued at $805,049.70. The disclosure for this sale can be found here. Insiders sold 17,360 shares of company stock worth $451,474 over the last ninety days. 1.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CXW. UBS Asset Management Americas Inc. grew its position in Corrections Corp. of America by 15.8% during the first quarter. UBS Asset Management Americas Inc. now owns 111,980 shares of the real estate investment trust’s stock valued at $3,518,000 after acquiring an additional 15,297 shares during the last quarter. Karp Capital Management Corp bought a new position in Corrections Corp. of America during the first quarter valued at approximately $1,173,000. Sei Investments Co. grew its position in Corrections Corp. of America by 830.5% during the first quarter. Sei Investments Co. now owns 78,594 shares of the real estate investment trust’s stock valued at $2,470,000 after acquiring an additional 70,148 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Corrections Corp. of America by 41.6% during the first quarter. Envestnet Asset Management Inc. now owns 36,478 shares of the real estate investment trust’s stock valued at $1,145,000 after acquiring an additional 10,708 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Corrections Corp. of America by 612.1% during the first quarter. JPMorgan Chase & Co. now owns 399,439 shares of the real estate investment trust’s stock valued at $12,550,000 after acquiring an additional 343,347 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

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

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