The stock of Corrections Corp Of America (NYSE:CXW) is a huge mover today! Corrections Corp Of America (NYSE:CXW) has declined 53.71% since March 15, 2016 and is downtrending. It has underperformed by 59.19% the S&P500.
The move comes after 9 months positive chart setup for the $1.54B company. It was reported on Oct, 18 by Barchart.com. We have $22.33 PT which if reached, will make NYSE:CXW worth $1.02 billion 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 $77.86 million 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. Canaccord Genuity maintained Corrections Corp Of America (NYSE:CXW) on Wednesday, August 24 with “Hold” rating. The rating was maintained by Canaccord Genuity with “Hold” on Tuesday, March 22. The firm has “Buy” rating given on Wednesday, October 12 by SunTrust. The stock of Corrections Corp Of America (NYSE:CXW) earned “Neutral” rating by Suntrust Robinson on Friday, July 1. SunTrust maintained the shares of CXW in a report on Thursday, September 1 with “Neutral” rating. The firm has “Neutral” rating by Suntrust Robinson given on Thursday, September 1. The stock of Corrections Corp Of America (NYSE:CXW) has “Hold” rating given on Friday, November 6 by Canaccord Genuity. The company was maintained on Friday, August 5 by Canaccord Genuity.
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 2016 Q2. Its up 0.17, from 1.25 in 2016Q1. The ratio is positive, 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.
Public Employees Retirement Association Of Colorado holds 0.01% or 28,184 shares in its portfolio. Blackrock Institutional Trust Na last reported 4.05 million shares in the company. Raymond James Trust Na accumulated 12,128 shares or 0.04% of the stock. Point72 Asia (Hong Kong) holds 1,600 shares or 0.06% of its portfolio. Savings Bank has invested 0.04% of its portfolio in Corrections Corp Of America (NYSE:CXW). Hancock has 0.01% invested in the company for 6,305 shares. Envestnet Asset accumulated 0.04% or 301,010 shares. Dorsey & Whitney Tru Limited Liability reported 5,132 shares or 0.18% of all its holdings. Weaver C Barksdale last reported 0.01% of its portfolio in the stock. Ubs Asset Americas holds 0% of its portfolio in Corrections Corp Of America (NYSE:CXW) for 120,175 shares. Teachers holds 173,977 shares or 0.01% of its portfolio. Princeton Alpha Mngmt L P owns 6,132 shares or 0.04% of their US portfolio. Arizona State Retirement Systems has invested 0.02% of its portfolio in Corrections Corp Of America (NYSE:CXW). Commonwealth Of Pennsylvania Pub School Empls Retrmt Systems holds 0.01% of its portfolio in Corrections Corp Of America (NYSE:CXW) for 22,611 shares. Credit Agricole S A holds 0% of its portfolio in Corrections Corp Of America (NYSE:CXW) for 7,867 shares.
Insider Transactions: Since August 18, 2016, the stock had 5 insider buys, and 0 insider sales for $420,191 net activity. Hininger Damon T bought $47,652 worth of Corrections Corp Of America (NYSE:CXW) on Thursday, August 18. Emkes Mark A had bought 10,000 shares worth $171,889. On Friday, August 19 the insider OVERBY CHARLES L bought $99,250. Another trade for 300 shares valued at $5,100 was bought by Irwin Scott D. $96,300 worth of Corrections Corp Of America (NYSE:CXW) shares were bought by MARIUCCI ANNE L.
More notable recent Corrections Corp Of America (NYSE:CXW) news were published by: Reuters.com which released: “BRIEF-Corrections Corp Of America sees q3 EPS $0.43 to $0.45” on October 17, 2016, also Fool.com with their article: “Why Barracuda Networks, Corrections Corp. of America, and Mueller Water …” published on October 12, 2016, Realmoney.Thestreet.com published: “Corrections Corp. of America: Value Investing for the Strong of Stomach” on October 14, 2016. More interesting news about Corrections Corp Of America (NYSE:CXW) were released by: Zacks.com and their article: “Bear of the Day: Corrections Corp of America (CXW)” published on October 13, 2016 as well as Reuters.com‘s news article titled: “BRIEF-London Co reports 0.02 pct passive stake in Corrections Corp Of Amer…” with publication date: October 11, 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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