Corrections Corp. of America (NYSE:CXW) issued an update on its FY16 earnings guidance on Monday morning. The company provided EPS guidance of $2.57-2.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.63. Corrections Corp. of America also updated its Q3 guidance to $0.67-0.68 EPS.

Shares of Corrections Corp. of America (NYSE:CXW) traded up 0.91% on Monday, hitting $14.35. The stock had a trading volume of 1,307,803 shares. The company has a 50 day moving average price of $15.22 and a 200-day moving average price of $27.42. The stock has a market cap of $1.69 billion, a PE ratio of 8.34 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.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm earned $463.30 million during the quarter, compared to the consensus estimate of $462.68 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts anticipate that Corrections Corp. of America will post $2.66 earnings per share for the current year.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 15.05%. The ex-dividend date is Thursday, September 29th. Corrections Corp. of America’s payout ratio is 125.58%.

CXW has been the subject of several recent analyst reports. Canaccord Genuity reaffirmed a hold rating on shares of Corrections Corp. of America in a report on Tuesday, June 28th. SunTrust Banks Inc. downgraded shares of Corrections Corp. of America from a buy rating to a neutral rating and dropped their target price for the stock from $37.00 to $34.00 in a report on Friday, July 1st. Zacks Investment Research downgraded shares of Corrections Corp. of America from a buy rating to a sell rating in a report on Wednesday, July 6th. TheStreet downgraded shares of Corrections Corp. of America from a buy rating to a hold rating in a report on Friday, August 12th. Finally, Wells Fargo & Co. reaffirmed a neutral rating on shares of Corrections Corp. of America in a report on Sunday, August 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Corrections Corp. of America currently has an average rating of Hold and a consensus target price of $26.00.

In related news, CEO Damon T. Hininger purchased 2,870 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average price of $16.60 per share, for a total transaction of $47,642.00. Following the purchase, the chief executive officer now directly owns 200,331 shares in the company, valued at $3,325,494.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles L. Overby purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was bought at an average price of $19.85 per share, for a total transaction of $99,250.00. Following the purchase, the director now owns 33,788 shares in the company, valued at $670,691.80. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Corrections Corp. of America by 86.5% in the second quarter. AQR Capital Management LLC now owns 308,850 shares of the real estate investment trust’s stock valued at $10,816,000 after buying an additional 143,258 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Corrections Corp. of America during the second quarter valued at approximately $262,000. First Allied Advisory Services Inc. boosted its stake in shares of Corrections Corp. of America by 27.1% in the second quarter. First Allied Advisory Services Inc. now owns 11,191 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 2,388 shares during the last quarter. EFG Asset Management Americas Corp. boosted its stake in shares of Corrections Corp. of America by 32.3% in the second quarter. EFG Asset Management Americas Corp. now owns 19,102 shares of the real estate investment trust’s stock valued at $699,000 after buying an additional 4,664 shares during the last quarter. Finally, Guardian Capital LP boosted its stake in shares of Corrections Corp. of America by 8.2% in the second quarter. Guardian Capital LP now owns 544,521 shares of the real estate investment trust’s stock valued at $19,069,000 after buying an additional 41,090 shares during the last quarter. Institutional investors and hedge funds own 90.89% of the company’s stock.

Corrections Corp. of America Company Profile

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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