Shares of Corrections Corp. of America (NYSE:CXW) have been assigned an average rating of “Buy” from the eight analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $34.25.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, August 4th. ValuEngine raised shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. BidaskClub downgraded shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Deutsche Bank AG dropped their price target on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $37.00 price target on shares of Corrections Corp. of America in a research note on Monday, October 2nd.

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Shares of Corrections Corp. of America (NYSE:CXW) traded up 3.42% during midday trading on Thursday, hitting $26.60. The stock had a trading volume of 1,878,770 shares. The company’s 50-day moving average price is $26.08 and its 200-day moving average price is $28.74. Corrections Corp. of America has a 12-month low of $12.99 and a 12-month high of $35.33. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 14.80 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Zacks’ 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 the consensus estimate of $437.92 million. During the same period in the prior year, the business posted $0.49 earnings per share. Corrections Corp. of America’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts forecast that Corrections Corp. of America will post $1.52 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend was Friday, September 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 93.86%.

In related news, EVP Kim White sold 5,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $26.27, for a total value of $131,350.00. Following the completion of the sale, the executive vice president now directly owns 22,393 shares in the company, valued at $588,264.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Garfinkle sold 10,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $259,000.00. Following the completion of the sale, the chief financial officer now owns 90,114 shares of the company’s stock, valued at $2,333,952.60. 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 company insiders.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new stake in Corrections Corp. of America in the first quarter worth $116,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Corrections Corp. of America in the first quarter worth $123,000. Advisory Services Network LLC boosted its holdings in Corrections Corp. of America by 115.0% in the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 2,189 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Corrections Corp. of America by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 452 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Corrections Corp. of America in the first quarter worth $162,000. Hedge funds and other institutional investors own 86.17% 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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