The stock of Corrections Corp Of America (NYSE:CXW) is a huge mover today! Corrections Corp Of America (NYSE:CXW) has declined 56.14% since March 9, 2016 and is downtrending. It has underperformed by 63.55% the S&P500.
The move comes after 8 months positive chart setup for the $1.54 billion company. It was reported on Oct, 12 by Barchart.com. We have $16.68 PT which if reached, will make NYSE:CXW worth $369.60 million more.
Analysts await Corrections Corp Of America (NYSE:CXW) to report earnings on November, 2. They expect $0.68 earnings per share, up 7.94% or $0.05 from last year’s $0.63 per share. CXW’s profit will be $77.86M for 4.94 P/E if the $0.68 EPS becomes a reality. After $0.69 actual earnings per share reported by Corrections Corp Of America for the previous quarter, Wall Street now forecasts -1.45% negative EPS growth.
Corrections Corp Of America (NYSE:CXW) Ratings Coverage
Out of 3 analysts covering Corrections Corp (NYSE:CXW), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Corrections Corp has been the topic of 8 analyst reports since November 6, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Thursday, September 1 by Suntrust Robinson. SunTrust upgraded the shares of CXW in a report on Wednesday, October 12 to “Buy” rating. The company was maintained on Tuesday, March 22 by Canaccord Genuity. Canaccord Genuity maintained it with “Hold” rating and $30 target price in Friday, August 5 report. As per Friday, July 1, the company rating was downgraded by Suntrust Robinson. Canaccord Genuity maintained it with “Hold” rating and $31 target price in Friday, November 6 report. The firm earned “Hold” rating on Wednesday, August 24 by Canaccord Genuity. The firm has “Neutral” rating given on Thursday, September 1 by SunTrust.
According to Zacks Investment Research, “Corrections Corporation of America is a real estate investment trust. It owns, operates and manages correctional, detention facilities and prisons primarily in the United States. In addition to providing the fundamental residential services relating to inmates, the company also offers rehabilitation and educational programs, including basic education, religious services, life skills and employment training and substance abuse treatment. Corrections Corporation of America is based in Nashville, Tennessee.”
Insitutional Activity: The institutional sentiment increased to 1.42 in Q2 2016. Its up 0.17, from 1.25 in 2016Q1. The ratio increased, as 20 funds sold all Corrections Corp Of America shares owned while 84 reduced positions. 37 funds bought stakes while 111 increased positions. They now own 105.78 million shares or 0.65% less from 106.47 million shares in 2016Q1.
Da Davidson And Com holds 0.01% or 7,853 shares in its portfolio. Shinko Asset reported 2.32 million shares or 0.57% of all its holdings. Legal General Group Inc Plc holds 0% or 88,015 shares in its portfolio. Chemical Comml Bank holds 9,800 shares or 0.05% of its portfolio. Delta Asset Mngmt Ltd Liability Com Tn accumulated 1.35% or 221,971 shares. New South Capital Mgmt last reported 3.14% of its portfolio in the stock. Shelton Mngmt holds 0.03% or 11,158 shares in its portfolio. Raymond James & Assoc reported 861,137 shares or 0.09% of all its holdings. Ibm Retirement Fund accumulated 11,800 shares or 0.01% of the stock. Moreover, Barclays Public Limited Liability Co has 0% invested in Corrections Corp Of America (NYSE:CXW) for 3,926 shares. Kanaly Tru Com has 66 shares for 0% of their US portfolio. Nationwide Fund Advsrs last reported 0.05% of its portfolio in the stock. Whittier Trust Company Of Nevada, a Nevada-based fund reported 757 shares. Assetmark Inc has 16,746 shares for 0.01% of their US portfolio. Nuance Investments Ltd Liability reported 41,544 shares or 0.15% of all its holdings.
Insider Transactions: Since August 18, 2016, the stock had 5 insider buys, and 0 selling transactions for $420,191 net activity. 5,000 shares were bought by OVERBY CHARLES L, worth $99,250. Shares for $5,100 were bought by Irwin Scott D on Thursday, August 18. $47,652 worth of Corrections Corp Of America (NYSE:CXW) was bought by Hininger Damon T. MARIUCCI ANNE L also bought $96,300 worth of Corrections Corp Of America (NYSE:CXW) shares. $171,889 worth of Corrections Corp Of America (NYSE:CXW) shares were bought by Emkes Mark A.
More important recent Corrections Corp Of America (NYSE:CXW) news were published by: Reuters.com which released: “BRIEF-London Co reports 0.02 pct passive stake in Corrections Corp Of Amer…” on October 11, 2016, also Prnewswire.com published article titled: “REIT Stocks Under Review — VEREIT, Annaly Capital, Spirit Realty, and …”, Streetinsider.com published: “SunTrust Robinson Humphrey Upgrades Corrections Corporation of America (CXW …” on October 12, 2016. More interesting news about Corrections Corp Of America (NYSE:CXW) was released by: Money.Cnn.com and their article: “Clinton call for end of private prisons sinks jail stocks” with publication date: September 27, 2016.
CXW Company Profile
Corrections Corporation of America, incorporated on September 24, 1998, is a real estate investment trust (REIT). The Firm 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. In addition to providing fundamental residential services, the Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith services, life skills and employment training, and substance abuse treatment. It also provides or makes available to offenders certain healthcare (including medical, dental and mental health services), food services and work and recreational programs. The Company’s clients consist of federal, state and local correctional and detention authorities. Federal correctional and detention authorities consist of the Federal Bureau of Prisons (the BOP), the United States Marshals Service (the USMS), and the United States Immigration and Customs Enforcement (ICE). The Company’s customer contracts have terms of three to five years and contain multiple renewal options. Most of its facility contracts also contain clauses that allow the government agency to terminate the contract at any time without cause.
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