Corrections Corp. of America (NYSE:CXW) – Equities researchers at SunTrust Banks boosted their Q4 2017 EPS estimates for shares of Corrections Corp. of America in a research report issued on Tuesday. SunTrust Banks analyst T. Sommer now anticipates that the real estate investment trust will earn $0.58 per share for the quarter, up from their prior forecast of $0.56.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.23. The company had revenue of $436.39 million for the quarter, compared to the consensus estimate of $437.92 million. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. Corrections Corp. of America’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. ILLEGAL ACTIVITY NOTICE: “SunTrust Banks Comments on Corrections Corp. of America’s Q4 2017 Earnings (NYSE:CXW)” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/suntrust-banks-comments-on-corrections-corp-of-americas-q4-2017-earnings-nysecxw/1472763.html.

Other analysts have also issued reports about the stock. ValuEngine upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Canaccord Genuity set a $36.00 target price on shares of Corrections Corp. of America and gave the stock a “buy” rating in a research note on Friday, May 19th. Deutsche Bank AG upped their target price on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Finally, Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $30.25.

Shares of Corrections Corp. of America (NYSE:CXW) traded up 1.97% during midday trading on Friday, hitting $25.90. 462,749 shares of the stock traded hands. Corrections Corp. of America has a 12-month low of $12.99 and a 12-month high of $35.33. The company’s 50 day moving average price is $27.65 and its 200-day moving average price is $30.67. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 14.41 and a beta of 0.92.

A number of institutional investors have recently made changes to their positions in CXW. Hartford Investment Management Co. acquired a new position in shares of Corrections Corp. of America during the first quarter worth about $1,505,000. State Street Corp acquired a new position in shares of Corrections Corp. of America during the first quarter worth about $100,342,000. Morgan Stanley increased its position in shares of Corrections Corp. of America by 78.6% in the first quarter. Morgan Stanley now owns 751,496 shares of the real estate investment trust’s stock worth $23,612,000 after buying an additional 330,634 shares during the period. State of Alaska Department of Revenue increased its position in shares of Corrections Corp. of America by 27.2% in the first quarter. State of Alaska Department of Revenue now owns 56,440 shares of the real estate investment trust’s stock worth $1,773,000 after buying an additional 12,060 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Corrections Corp. of America by 46.4% in the fourth quarter. Teachers Advisors LLC now owns 247,185 shares of the real estate investment trust’s stock worth $6,046,000 after buying an additional 78,389 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Lucibeth Mayberry sold 6,236 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $30.41, for a total value of $189,636.76. Following the completion of the transaction, the executive vice president now directly owns 51,851 shares of the company’s stock, valued at $1,576,788.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 23,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $33.86, for a total value of $778,780.00. Following the completion of the transaction, the executive vice president now directly owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The disclosure for this sale can be found here. Insiders have sold 34,236 shares of company stock worth $1,121,117 over the last 90 days. Insiders own 1.30% of the company’s stock.

About Corrections Corp. of America

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.

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

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