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Last $35.38 USD
Change Today -0.14 / -0.39%
Volume 211.4K
As of 12:18 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

corrections corp of america (CXW) Snapshot

Open
$35.31
Previous Close
$35.52
Day High
$35.45
Day Low
$35.03
52 Week High
03/23/15 - $42.31
52 Week Low
08/1/14 - $32.05
Market Cap
4.1B
Average Volume 10 Days
639.0K
EPS TTM
$1.97
Shares Outstanding
117.0M
EX-Date
06/30/15
P/E TM
17.9x
Dividend
$2.16
Dividend Yield
5.86%
Current Stock Chart for CORRECTIONS CORP OF AMERICA (CXW)

corrections corp of america (CXW) Related Businessweek News

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corrections corp of america (CXW) Details

Corrections Corporation of America, together with its subsidiaries, owns and operates privatized correctional and detention facilities in the United States. It owns, operates, and manages prisons and other correctional facilities; and provides inmate residential and prisoner transportation services for governmental agencies. The company 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 mental health services. In addition, it leases its facilities to third-party operators. The company serves federal, state, and local correctional and detention authorities. As of December 31, 2012, the company owned and managed 47 correctional and detention facilities; and managed 20 correctional and detention facilities, which it did not own. Corrections Corporation of America was founded in 1983 and is based in Nashville, Tennessee.

14,040 Employees
Last Reported Date: 02/25/15
Founded in 1983

corrections corp of america (CXW) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $811.2K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $323.0K
Chief Development Officer and Executive Vice ...
Total Annual Compensation: $377.4K
Chief Corrections Officer and Executive Vice ...
Total Annual Compensation: $377.4K
Executive Vice President, General Counsel and...
Total Annual Compensation: $308.2K
Compensation as of Fiscal Year 2014.

corrections corp of america (CXW) Key Developments

Corrections Corporation of America Declares Quarterly Cash Dividend, Payable on July 15, 2015

Corrections Corporation of America announced that its Board of Directors declared a quarterly dividend of $0.54 per share to be paid on July 15, 2015 to shareholders of record as of the close of business on July 2, 2015.

Corrections Corporation of America Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter Ending June 30, 2015 and Full Year Ending December 31, 2015; Reports Asset Impairments for the First Quarter Ended March 31, 2015

Corrections Corporation of America announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $426,000,000 against $404,222,000 a year ago. Operating income was $68,826,000 against $63,066,000 a year ago. Income before income taxes was $58,662,000 against $53,105,000 a year ago. Net income was $57,277,000 or $0.49 basic and diluted against $51,738,000 or $0.44 diluted per share a year ago. Diluted adjusted net income was $58,232,000 or $0.49 diluted per share against $51,738,000 or $0.44 diluted per share a year ago. Funds from operations were $78,549,000 against $72,815,000 a year ago. Normalized funds from operations were $79,504,000 or $0.68 diluted per share against $72,815,000 or $0.62 diluted per share a year ago. Adjusted funds from operations were $79,824,000 or $0.68 diluted per share against $68,135,000 or $0.58 diluted per share a year ago. The increase in revenue was primarily attributable to the operational ramp of its South Texas Family Residential Center, which contributed approximately $36.0 million in first quarter revenue, and the acceptance of an additional 500 inmates from the state of Arizona at the Red Rock Correctional Center. The company provided earnings guidance for the second quarter ending June 30, 2015 and full year ending December 31, 2015. For the quarter, the company expected net income in the range of $58,000,000 to $60,000,000, adjusted net income in the range of $58,000,000 to $60,000,000, funds from operations in the range of $79,000,000 to $81,000,000, maintenance capital expenditures of $7,000,000, adjusted funds from operations in the range of $77,000,000 to $79,000,000, adjusted EPS per diluted share in the range of $0.49 to $0.51, FFO per diluted share in the range of $0.67 to $0.69, AFFO per diluted share in the range of $0.65 to $0.67, Interest expense, net of $12,000,000, depreciation and amortization in the range of $38,000,000 to $39,000,000, EBITDA in the range of $112,000,000 to $115,000,000 and adjusted EBITDA in the range of $101,000,000 to $104,000,000. For the year, the company expected net income in the range of $222,045,000 to $231,045,000, adjusted net income in the range of $223,000,000 to $232,000,000, funds from operations in the range of $309,000,000 to $319,000,000, maintenance capital expenditures on real estate assets in the range of $25,000,000 to $26,000,000, adjusted funds from operations in the range of $303,000,000 to $312,000,000, adjusted EPS per diluted share in the range of $1.89 to $1.97, FFO per diluted share in the range of $2.62 to $2.70, AFFO per diluted share in the range of $2.57 to $2.64, interest expense, net in the range of $49,000,000 to $51,000,000, depreciation and amortization in the range of $154,000,000 to $156,000,000, EBITDA in the range of $438,000,000 to $453,000,000 and adjusted EBITDA in the range of $400,000,000 to $415,000,000. Updated full-year 2015 guidance to reflect year-to-date financial results and current market developments, the most significant development being an expected decline in California inmates housed in certain of its facilities located outside the state of California as a result of decreases in inmate populations within the state's correctional system. The company reported asset impairments for the first quarter ended March 31, 2015. For the quarter, the company reported asset impairments of $955,000.

Corrections Corporation of America Seeks Acquisitions

Corrections Corporation of America (NYSE:CXW) is seeking acquisitions. Damon Hininger, President and Chief Executive Officer, said, "We continue to evaluate acquisition opportunities in this market and we'll be disciplined in our approach."

 

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Industry Analysis

CXW

Industry Average

Valuation CXW Industry Range
Price/Earnings 20.6x
Price/Sales 2.5x
Price/Book 2.8x
Price/Cash Flow 13.1x
TEV/Sales 1.7x
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