Corrections Corporation of America (NYSE:CXW) near 52-week low on important volume

Corrections Corporation of America (NYSE:CXW) (TREND ANALYSIS) shares were traded with more than 50% increase in usual volume. The stock closed last trading session at $28.5, down by -2.63%, with a volume of 2,107,001 shares against an average volume for the last 3 months of 884,278.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

Corrections Corporation of America (NYSE:CXW) stock is currently trading 32.64% below its 52-week-high, 3.79% above its 52-week-low. The 1-year stock price history is in the range of $27.46 – $42.31. Corrections Corporation of America (CXW) has a price to earnings ratio of 16 versus Financial sector average of 16.18. CXW stock price has underperformed the S&P 500 by 20.4%. The Diversified REIT company is currently valued at $3.34 billion and its share price closed the last trading session at $28.5. The stock has a 50-day moving average of $30.05 and a 200-day moving average of $33.15.

Corrections Corporation of America (CXW) current short interest stands at 6.87 million shares. It has increased by 2% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.77 million shares, the number of days required to cover the short positions stand at 9 days.

The company is expected to announce next quarter earnings on November 04, at consensus estimate of $0.63. Corrections Corporation of America (CXW) reported last quarter earnings on August 05. The Diversified REIT company announced earnings per share of $0.73 against a consensus Street estimate of $0.68, beating the average estimate by $0.05. This corresponds to a flat EPS compared to the same quarter of the previous fiscal year.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently four analysts that cover Corrections Corporation of America stock. Of those four, one has a Buy rating, three have a Hold rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $36.67.

A recent analyst activity consisted of Canaccord Genuity who initiated their coverage on the stock with Hold rating on July 14. Canaccord Genuity fixed their price target at $37. This corresponds to a 29.82% upside from the last closing price. On the date of report, the stock closed at $33.86.

Macquarie downgraded their Outperform rating to Neutral on June 19. On the date of report, the stock closed at $33.09.

Company profile

Corrections Corporation of America, together with its subsidiaries, owns and operates privatized correctional and detention facilities in the United States. The company owns, operates, and manages prisons and other correctional facilities; and provides inmate residential and prisoner transportation services for governmental agencies. It also offers various rehabilitation and educational programs, including basic education, religious services, life skills and employment training, and substance abuse treatment, as well as food services, work and recreational programs, and healthcare services, such as medical, dental, and psychiatric services. In addition, the company leases facilities to third-party operators. Its customers include federal, state, and local correctional and detention authorities. The company operates 66 correctional and detention facilities, including 46 own facilities with a total capacity of approximately 91,000 beds in 20 states and the District of Columbia; and owns and leases 2 correctional and detention facilities to other operators. Corrections Corporation of America was founded in 1983 and is based in Nashville, Tennessee.

Related Posts

About The Author