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

Shares of Corrections Corp. of America (NYSE:CXW) traded up 0.91% during trading on Monday, reaching $14.35. 1,300,800 shares of the company traded hands. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 8.34 and a beta of 0.64. The stock’s 50 day moving average is $15.22 and its 200 day moving average is $27.42. Corrections Corp. of America has a 1-year low of $13.04 and a 1-year 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 EPS for the quarter, topping the 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 firm had revenue of $463.30 million for the quarter, compared to analyst estimates of $462.68 million. During the same period in the prior year, the business posted $0.73 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that Corrections Corp. of America will post $2.66 EPS for the current year.

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

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

A number of equities research analysts have issued reports on CXW shares. Wells Fargo & Co. reiterated a neutral rating on shares of Corrections Corp. of America in a report on Sunday, August 21st. Canaccord Genuity reiterated a hold rating on shares of Corrections Corp. of America in a report on Tuesday, July 12th. Zacks Investment Research lowered shares of Corrections Corp. of America from a buy rating to a sell rating in a report on Wednesday, July 6th. SunTrust Banks Inc. reduced their target price on shares of Corrections Corp. of America from $34.00 to $20.00 and set a neutral rating on the stock in a report on Thursday, September 1st. Finally, TheStreet lowered shares of Corrections Corp. of America from a buy rating to a hold rating in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Corrections Corp. of America has a consensus rating of Hold and an average target price of $26.00.

In related news, Director Charles L. Overby bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average cost of $19.85 per share, with a total value of $99,250.00. Following the transaction, the director now directly owns 33,788 shares of the company’s stock, valued at approximately $670,691.80. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Emkes bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was bought at an average cost of $17.19 per share, for a total transaction of $171,900.00. Following the completion of the transaction, the director now directly owns 20,755 shares in the company, valued at $356,778.45. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors boosted its stake in shares of Corrections Corp. of America by 4.4% in the second quarter. BlackRock Fund Advisors now owns 4,633,312 shares of the real estate investment trust’s stock worth $162,259,000 after buying an additional 196,228 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Corrections Corp. of America by 2.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,051,245 shares of the real estate investment trust’s stock worth $141,875,000 after buying an additional 109,091 shares in the last quarter. State Street Corp boosted its stake in shares of Corrections Corp. of America by 1.0% in the second quarter. State Street Corp now owns 3,203,766 shares of the real estate investment trust’s stock worth $112,197,000 after buying an additional 32,259 shares in the last quarter. Waddell & Reed Financial Inc. boosted its stake in shares of Corrections Corp. of America by 2.7% in the second quarter. Waddell & Reed Financial Inc. now owns 1,070,010 shares of the real estate investment trust’s stock worth $37,472,000 after buying an additional 28,330 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Corrections Corp. of America by 0.3% in the second quarter. Raymond James & Associates now owns 861,137 shares of the real estate investment trust’s stock worth $30,157,000 after buying an additional 2,671 shares in the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.

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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