Media coverage about Corrections Corp. of America (NYSE:CXW) has trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Corrections Corp. of America earned a news sentiment score of 0.23 on Accern’s scale. Accern also gave headlines about the real estate investment trust an impact score of 45.7832383224691 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the headlines that may have impacted Accern’s scoring:
- $0.54 EPS Expected for Corrections Corp. of America (CXW) This Quarter (americanbankingnews.com)
- Editorial: State could use Estancia jail (abqjournal.com)
- How JPMorgan Chase Is Cashing in on Private Prisons (alternet.org)
- Trapped in a Transphobic Hell: Ky Peterson and the Trials of Trans People in Prison (truth-out.org)
- Cities Are Divesting From Private Prisons, but Not Nashville (nashvillescene.com)
Several equities research analysts have recently commented on CXW shares. BidaskClub downgraded shares of Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Monday, May 22nd. ValuEngine upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, TheStreet downgraded shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $30.00.
Shares of Corrections Corp. of America (NYSE:CXW) opened at 26.09 on Friday. The firm has a market cap of $3.08 billion, a P/E ratio of 14.52 and a beta of 0.92. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.33. The stock has a 50 day moving average of $26.01 and a 200 day moving average of $29.72.
Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The company had revenue of $436.39 million for the quarter, compared to analysts’ expectations of $437.92 million. During the same quarter last year, the business earned $0.49 earnings per share. Corrections Corp. of America’s revenue was down 5.8% on a year-over-year basis. Analysts anticipate that Corrections Corp. of America will post $1.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date is Friday, September 29th. Corrections Corp. of America’s payout ratio is currently 93.86%.
In related news, Director Mark A. Emkes purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $25.62 per share, for a total transaction of $128,100.00. Following the completion of the transaction, the director now owns 44,426 shares of the company’s stock, valued at $1,138,194.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.
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.
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