Last $32.88 USD
Change Today -0.07 / -0.21%
Volume 377.1K
CXW On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

corrections corp of america (CXW) Snapshot

Open
$32.97
Previous Close
$32.95
Day High
$32.97
Day Low
$32.75
52 Week High
05/20/13 - $39.90
52 Week Low
02/10/14 - $30.37
Market Cap
3.8B
Average Volume 10 Days
505.0K
EPS TTM
$2.27
Shares Outstanding
116.3M
EX-Date
03/31/14
P/E TM
14.5x
Dividend
$2.04
Dividend Yield
5.93%
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 Financial Officer, Principal Accounting...
Total Annual Compensation: $355.5K
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

CCA Announces Executive Changes

CCA announced that David Garfinkle, who currently serves as the company's Vice President of Finance and Controller, has been selected by the Board of Directors to succeed Todd Mullenger as the company's Chief Financial Officer effective May 1, 2014. Mullenger has decided to step down as CFO, but will remain with the company for a two-year period to assist in the transition and to assist in various projects. Garfinkle joined CCA as Vice President, Finance in February 2001. From 1996 to 2001, Garfinkle served as Vice President and Controller for Bradley Real Estate Inc.

Corrections Corporation of America Declares Quarterly Cash Dividend, Payable on April 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 April 15, 2014 to shareholders of record as of the close of business on April 2, 2014. The company able to increase the dividend to common shareholders, reflecting growing earnings and cash flow, and the overall strength of business.

Corrections Corporation of America Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter Ending March 31, 2014 and Year Ending December 31, 2014; Reports Asset Impairments for the Quarter

Corrections Corporation of America announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenue of $431.103 million against $427.677 million a year ago. Operating income was $56.019 million against $80.299 million a year ago. Income from continuing operations before income taxes was $45.729 million against $67.137 million a year ago. Income from continuing operations was $47.471 million or $0.41 per diluted share against $45.258 million or $0.45 per diluted share a year ago. Net income was $47.471 million or $0.41 per diluted share against $45.408 million or $0.45 per diluted share a year ago. Adjusted net income was $51.776 million against $44.050 million a year ago. Adjusted diluted earnings per share were $0.44 against $0.44 a year ago. Pro forma adjusted diluted earnings per share were $0.44 against $0.38 a year ago. Funds from operations were $68.445 million against $65.556 million a year ago. Normalized funds from operations were $72.750 million or $0.62 per diluted share against $64.198 million or $0.64 per diluted share a year ago. Maintenance capital expenditures on real estate assets were $7.890 million against $6.428 million a year ago. Adjusted funds from operations were $68.892 million or $0.59 per diluted share against $62.008 million or $0.61 per diluted share a year ago. Pro forma normalized FFO per diluted share was $0.62 against $0.56 a year ago. Pro forma AFFO per diluted share was $0.59 against $0.54 a year ago. Revenue for the fourth quarter of 2013 reflects lower populations primarily at California City facility as the inmates were removed from the facility during the first part of the quarter in preparation for a new lease with the California Department of Corrections and Rehabilitation commencing on December 1, 2013. For the year, the company reported revenue of $1,694.297 million against $1,723.657 million a year ago. Operating income was $251.151 million against $304.608 million a year ago. Income from continuing operations before income taxes was $169.597 million against $244.479 million a year ago. Income from continuing operations was $304.592 million or $2.73 per diluted share against $156.966 million or $1.56 per diluted share a year ago. Net income was $300.835 million or $2.70 per diluted share against $156.761 million or $1.56 per diluted share a year ago. Adjusted net income was $213.419 million against $157.865 million a year ago. Adjusted diluted earnings per share were $1.92 against $1.57 a year ago. Pro forma adjusted diluted earnings per share were $1.83 against $1.38 a year ago. Funds from operations were $382.148 million against $235.906 million a year ago. Normalized funds from operations were $294.732 million or $2.65 per diluted share against $237.010 million or $2.36 per diluted share a year ago. Maintenance capital expenditures on real estate assets were $21.005 million against $18.643 million a year ago. Adjusted funds from operations were $290.174 million or $2.61 per diluted share against $234.979 million or $2.34 per diluted share a year ago. Pro forma normalized FFO per diluted share was $2.53 against $2.07 a year ago. Pro forma AFFO per diluted share was $2.49 against $2.05 a year ago. For the first quarter ending March 31, 2014 the company expects net income in a range of $49-52 million, depreciation of real estate assets of $21 million, funds from operations in a range of $70-73 million, maintenance capital expenditures on real estate assets of $6 million, adjusted funds from operations in a range of $68.200 million to $71.300 million, normalized funds from operations per diluted share in a range of $0.60-0.62 and adjusted funds from operations per diluted share in a range of $0.58-$0.61. The company expects adjusted diluted EPS for the first quarter of 2014 to be in the range of $0.42 to $0.44. For the year ending December 31, 2014 the company expects net income in a range of $217-227 million, depreciation of real estate assets of $85 million, funds from operations in a range of $302-312 million, maintenance capital expenditures on real estate assets of $25 million, adjusted funds from operations in a range of $294 million to $304 million, normalized funds from operations per diluted share in a range of $2.56-2.64 and adjusted funds from operations per diluted share in a range of $2.49-2.58. During 2014, the company expects to invest approximately $180.0 million to $195.0 million in capital expenditures, consisting of $130.0 million to $140.0 million in on-going prison construction and expenditures related to potential land acquisitions, approximately $25.0 million in maintenance capital expenditures on real estate assets, and $25.0 million to $30.0 million for capital expenditures on other assets and information technology. The company expects adjusted diluted EPS for the full year 2014 to be in the range of $1.84 to $1.92. For the quarter, the company reported asset impairments of $5.528 million.

 

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CXW

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Valuation CXW Industry Range
Price/Earnings 12.0x
Price/Sales 2.2x
Price/Book 2.5x
Price/Cash Flow 9.3x
TEV/Sales 1.5x
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