Corrections Corp. of America (NYSE:CXW) – Analysts at SunTrust Banks lowered their FY2016 earnings estimates for Corrections Corp. of America in a note issued to investors on Wednesday. SunTrust Banks analyst T. Sommer now forecasts that the brokerage will earn $2.57 per share for the year, down from their prior forecast of $2.66. SunTrust Banks has a “Buy” rating and a $20.00 price target on the stock. SunTrust Banks also issued estimates for Corrections Corp. of America’s Q1 2017 earnings at $0.45 EPS, Q2 2017 earnings at $0.45 EPS, Q3 2017 earnings at $0.44 EPS and Q4 2017 earnings at $0.43 EPS.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. Corrections Corp. of America had a net margin of 11.17% and a return on equity of 14.16%. The company earned $463.30 million during the quarter, compared to the consensus estimate of $462.68 million. During the same period in the prior year, the business posted $0.73 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis.

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

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Corrections Corp. of America from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Canaccord Genuity reissued a “hold” rating and set a $21.00 target price on shares of Corrections Corp. of America in a research note on Tuesday, September 27th. Wells Fargo & Co. reissued a “neutral” rating on shares of Corrections Corp. of America in a research note on Sunday, August 21st. Finally, TheStreet downgraded shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $26.00.

Shares of Corrections Corp. of America (NYSE:CXW) traded down 0.42% during midday trading on Friday, reaching $14.17. 1,064,489 shares of the company traded hands. The company has a 50-day moving average of $15.33 and a 200 day moving average of $27.55. The firm has a market capitalization of $1.67 billion, a PE ratio of 8.24 and a beta of 0.64. Corrections Corp. of America has a 12-month low of $13.04 and a 12-month high of $35.05.

A number of large investors have recently bought and sold shares of the stock. Commonwealth Equity Services Inc increased its stake in Corrections Corp. of America by 37.0% in the first quarter. Commonwealth Equity Services Inc now owns 17,360 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 4,684 shares during the period. Aperio Group LLC increased its stake in Corrections Corp. of America by 43.6% in the first quarter. Aperio Group LLC now owns 31,114 shares of the real estate investment trust’s stock valued at $997,000 after buying an additional 9,448 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Corrections Corp. of America by 181.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 22,200 shares of the real estate investment trust’s stock valued at $712,000 after buying an additional 14,300 shares during the last quarter. Ngam Advisors L.P. increased its stake in Corrections Corp. of America by 150.2% in the first quarter. Ngam Advisors L.P. now owns 28,450 shares of the real estate investment trust’s stock valued at $911,000 after buying an additional 17,080 shares during the last quarter. Finally, Teachers Advisors Inc. increased its stake in Corrections Corp. of America by 56.8% in the first quarter. Teachers Advisors Inc. now owns 170,135 shares of the real estate investment trust’s stock valued at $5,453,000 after buying an additional 61,609 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Mark A. Emkes purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was purchased at an average cost of $17.19 per share, with a total value of $171,900.00. Following the completion of the purchase, the director now owns 20,755 shares in the company, valued at approximately $356,778.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Damon T. Hininger purchased 2,870 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was bought at an average cost of $16.60 per share, with a total value of $47,642.00. Following the completion of the purchase, the chief executive officer now owns 200,331 shares of the company’s stock, valued at approximately $3,325,494.60. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 15.18%. The ex-dividend date is Thursday, September 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is currently 125.58%.

About Corrections Corp. of America

Corrections Corporation of America is a real estate investment trust (REIT). The Company is engaged in owning, operating and managing prisons and other correctional facilities, and providing residential, community re-entry, and prisoner transportation services for governmental agencies. The Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment.

5 Day Chart for NYSE:CXW

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