Revenue Update on Corrections Corp Of America(NYSE:CXW)

Corrections Corp Of America(NYSE:CXW) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $463.33M. Analysts estimated a revenue of $462.68M. Earnings per share were $0.69. Analysts had estimated an EPS of $0.65.

Corrections Corp Of America (CXW) shares turned negative on Fridays trading session with the shares closing down -0.19 points or -0.69% at a volume of 13,91,170. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.58. The peak price level was also seen at $27.58 while the days lowest was $27.145. Finally the shares closed at $27.2. The 52-week high of the shares is $35.05 while the 52-week low is $24.21. According to the latest information available, the market cap of the company is $3,197 M.

Several Insider Transactions has been reported to the SEC. On Mar 29, 2016, John D Ferguson (Executive Chairman) sold 60,000 shares at $32.16 per share price.Also, On Mar 17, 2016, Steve E Groom (EVP, GENERAL COUNSEL & SECY.) sold 58,150 shares at $30.95 per share price.On Mar 9, 2016, Harley G. Lappin (EVP, Chief Corrections Officer) sold 11,133 shares at $29.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Corrections Corporation of America (CCA) is a real estate investment trust (REIT). The Company is engaged in owning operating and managing prisons and other correctional facilities and providing residential community re-entry and prisoner transportation services for governmental agencies. In addition to providing fundamental residential services the Company’s facilities offer a variety of rehabilitation and educational programs including basic education faith-based services life skills and employment training and substance abuse treatment. It also provides or makes available to offenders certain health care (including medical dental and mental health services) food services and work and recreational programs. The Company’s customers consist of federal state and local correctional and detention authorities. The Company also provides transportation services to governmental agencies through its wholly owned TRS TransCor America LLC (TransCor).

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