SunTrust Banks, Inc. reiterated their buy rating on shares of Corrections Corp. of America (NYSE:CXW) in a research note released on Friday. They currently have a $37.00 target price on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Corrections Corp. of America’s FY2017 earnings at $2.33 EPS and Q4 2018 earnings at $0.57 EPS.

Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Corrections Corp. of America from a hold rating to a sell rating in a research note on Friday. ValuEngine upgraded Corrections Corp. of America from a buy rating to a strong-buy rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $34.25.

Corrections Corp. of America (CXW) opened at $24.37 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. Corrections Corp. of America has a 52 week low of $19.79 and a 52 week high of $35.33. The firm has a market capitalization of $2,909.00, a PE ratio of 9.88, a P/E/G ratio of 1.76 and a beta of 0.91.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Corrections Corp. of America had a return on equity of 13.54% and a net margin of 11.03%. The company had revenue of $442.80 million during the quarter, compared to analyst estimates of $437.18 million. During the same period in the previous year, the business earned $0.69 EPS. Corrections Corp. of America’s quarterly revenue was down 6.8% on a year-over-year basis. research analysts forecast that Corrections Corp. of America will post 2.33 earnings per share for the current year.

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In other news, Director Thurgood Marshall, Jr. sold 2,360 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $61,124.00. Following the transaction, the director now directly owns 31,083 shares in the company, valued at approximately $805,049.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Garfinkle sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $259,000.00. Following the transaction, the chief financial officer now owns 90,114 shares in the company, valued at $2,333,952.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,360 shares of company stock valued at $580,224. 1.30% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH boosted its holdings in shares of Corrections Corp. of America by 135.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 30,706 shares of the real estate investment trust’s stock worth $822,000 after purchasing an additional 17,672 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Corrections Corp. of America by 20.9% during the 3rd quarter. Synovus Financial Corp now owns 31,797 shares of the real estate investment trust’s stock worth $858,000 after purchasing an additional 5,491 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Corrections Corp. of America by 7.9% during the 3rd quarter. Wells Fargo & Company MN now owns 424,547 shares of the real estate investment trust’s stock worth $11,364,000 after purchasing an additional 31,200 shares during the last quarter. Twin Capital Management Inc. boosted its holdings in shares of Corrections Corp. of America by 35.3% during the 3rd quarter. Twin Capital Management Inc. now owns 67,700 shares of the real estate investment trust’s stock worth $1,812,000 after purchasing an additional 17,670 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Corrections Corp. of America by 690.0% during the 3rd quarter. Schroder Investment Management Group now owns 16,589 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 14,489 shares during the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

Corrections Corp. of America Company Profile

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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