Corrections Corp Of America (CXW) Issues Q2 Earnings Guidance

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Corrections Corp Of America (NYSE:CXW) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.45-0.47 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.47, American Banking News reports. Corrections Corp Of America also updated its FY14 guidance to $1.84-1.92 EPS.

Corrections Corp Of America (NYSE:CXW) opened at 33.50 on Thursday. Corrections Corp Of America has a 52-week low of $30.37 and a 52-week high of $39.90. The stock has a 50-day moving average of $32.23 and a 200-day moving average of $33.46. The company has a market cap of $3.884 billion and a P/E ratio of 12.24.

Corrections Corp Of America (NYSE:CXW) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $404.22 million for the quarter, compared to the consensus estimate of $412.89 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts predict that Corrections Corp Of America will post $1.88 earnings per share for the current fiscal year.

CXW has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Corrections Corp Of America from a sell rating to a hold rating in a research note on Friday, February 28th. They now have a $34.10 price target on the stock. On a related note, analysts at Barclays cut their price target on shares of Corrections Corp Of America from $39.00 to $37.00 in a research note on Friday, February 14th. They now have an overweight rating on the stock. Finally, analysts at CRT Capital upgraded shares of Corrections Corp Of America from a fair value rating to a buy rating in a research note on Friday, February 14th. They now have a $36.00 price target on the stock, up previously from $35.00. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $28.82.

Corrections Corporation of America (NYSE:CXW) is a real estate investment trust.

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