Last $35.64 USD
Change Today +0.05 / 0.14%
Volume 335.6K
CXW On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

corrections corp of america (CXW) Snapshot

Open
$35.69
Previous Close
$35.59
Day High
$35.80
Day Low
$35.55
52 Week High
10/29/13 - $38.13
52 Week Low
02/10/14 - $30.37
Market Cap
4.1B
Average Volume 10 Days
323.5K
EPS TTM
$1.84
Shares Outstanding
116.4M
EX-Date
09/30/14
P/E TM
19.3x
Dividend
$2.04
Dividend Yield
5.55%
Current Stock Chart for CORRECTIONS CORP OF AMERICA (CXW)

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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.

15,400 Employees
Last Reported Date: 02/27/14
Founded in 1983

corrections corp of america (CXW) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $737.2K
Chief Development Officer and Executive Vice ...
Total Annual Compensation: $332.7K
Chief Corrections Officer and Executive Vice ...
Total Annual Compensation: $332.7K
Executive Vice President, General Counsel and...
Total Annual Compensation: $282.3K
Compensation as of Fiscal Year 2013.

corrections corp of america (CXW) Key Developments

Corrections Corporation of America Declares Quarterly Dividend, Payable on October 15, 2014

Corrections Corporation of America announced that its Board of Directors declared a quarterly dividend of $0.51 per share to be paid on October 15, 2014 to shareholders of record as of the close of business on October 2, 2014.

Corrections Corporation of America Appoints Mark A. Emkes to Board of Directors

Corrections Corporation of America announced that Mark A. Emkes, has been appointed as an independent member of CCA's Board of Directors, increasing the membership to twelve directors. In April 2004, Emkes was promoted to Chairman and CEO of Bridgestone Americas Holdings Inc. and was elected as a member of the Board of Directors of the Tokyo-based Bridgestone Corporation, a position from which he retired in February 2010. Emkes has served as President of the Middle Tennessee Council of the Boy Scouts of America, on the Board of Directors of the Community Foundation of Middle Tennessee, and on the Advisory Board of Habitat for Humanity, Nashville Chapter. He also was Chairman of Nashville's 2010 Heart Walk and is a member of CEOs Against Cancer, Tennessee Chapter. Emkes currently serves on the boards of Greif Inc., First Horizon National Corporation and Clarcor Inc.

Corrections Corporation of America Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of 2014; Revises Earnings Guidance for 2014; Reports Impairment Charges for the Second Quarter Ended June 30, 2014

Corrections Corporation of America reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company generated net income of $55,732,000 or $0.48 per diluted share compared with net income of $20,429,000 or $0.19 per diluted share a year ago. Operating income was $65,535,000 against $67,969,000 for the same period a year ago. Total revenue was $410,694,000 against $425,005,000 for the same period a year ago. Income from continuing operations before income taxes was $57,784,000 against $19,791,000 for the same period a year ago. Income from continuing operations was $55,732,000 or $0.48 per diluted share against $23,168,000 or $0.21 per diluted share for the same period a year ago. Diluted adjusted net income was $57,967,000 or $0.49 per diluted share against $57,073,000 or $0.52 per diluted share for the same period a year ago. Pro-forma adjusted diluted earnings per share were $0.49 against $0.49 a year ago. Funds from operations were $79,398,000 compared to $40,543,000 in the prior year quarter. Normalized funds from operations were $79,398,000 or $0.68 per diluted share compared to $77,187,000 or $0.71 per diluted share in the prior year quarter. Adjusted funds from operations was $147,704,000 or $1.26 per diluted share compared with $147,858,000 or $1.40 per diluted share during the prior year period. Maintenance capital expenditures on real estate were $4,221,000 against $4,396,000 for the same period a year ago. For the six months, the company generated net income of $107,470,000 or $0.92 per diluted share compared with net income of $201,521,000 or $1.91 per diluted share a year ago. Operating income was $128,601,000 against $127,861,000 for the same period a year ago. Total revenue was $814,916,000 against $841,728,000 for the same period a year ago. Income from continuing operations before income taxes was $110,889,000 against $66,791,000 for the same period a year ago. Income from continuing operations was $107,470,000 or $0.92 per diluted share against $204,615,000 or $1.91 per diluted share for the same period a year ago. Diluted adjusted net income was $109,705,000 or $0.94 per diluted share against $108,163,000 or $1.03 per diluted share for the same period a year ago. Funds from operations were $152,213,000 compared to $241,382,000 in the prior year quarter. Normalized funds from operations were $152,213,000 or $1.30 per diluted share compared to $147,704,000 or $1.26 per diluted share in the prior year quarter. Adjusted funds from operations was $147,704,000 or $1.26 per diluted share compared with $147,858,000 or $1.40 per diluted share during the prior year period. Maintenance capital expenditures on real estate were $12,949,000 against $8,530,000 for the same period a year ago. For the quarter, the company reported asset impairments of $2,238,000. The company expects adjusted diluted EPS for the third quarter to be in the range of $0.46 to $0.48 and adjusted diluted EPS for fourth quarter to be in the range of $0.47 to $0.51, resulting in an increase in full year 2014 adjusted diluted EPS in the range of $1.87 to $1.93 from the previous range of $1.84 to $1.92. The company expected effective income tax rate to normalize at around 6% to 8% in third quarter of 2014 and the company expected net interest expense to return to approximately $10.5 million in third quarter of 2014 and fourth quarter of 2014. Each of these factors is expected to result in a reduction of about a $0.01 per share from second quarter of 2014 to third quarter of 2014 for a total reduction of $0.03 per share. The company also increased guidance for FFO per diluted share for the full-year 2014 to be in the range of $2.59 to $2.65, from $2.56 to $2.64, while full-year 2014 AFFO per diluted share is in the range of $2.53 to $2.58 from $2.49 to $2.58. During 2014, the company expected to invest approximately $150.0 million to $165.0 million in capital expenditures, consisting of $100.0 million to $110.0 million in on-going prison construction and expenditures related to potential land acquisitions, $25.0 million in maintenance capital expenditures on real estate assets, and $25.0 million to $30.0 million on capital expenditures on other assets and information technology. Depreciation expense for the full year 2014 is estimated at $114 million to $116 million. The company is assuming a consolidated GAAP income tax rate of approximately 5% to 7% for the full year which is lower than previously forecasted because of the low rates during the first half of the year 2014.

 

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Valuation CXW Industry Range
Price/Earnings 20.1x
Price/Sales 2.5x
Price/Book 2.8x
Price/Cash Flow 12.9x
TEV/Sales 1.7x
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