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Corrections Corporation of America Message Board

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  • newMK newMK Jan 13, 1999 12:18 AM Flag

    This weekend's Barron's reports that...

    Thanks, Bunnyboy and General for the estimates.
    J.C. Bradford's 1-8-99 report is consistent with what
    IR said. They have revised downward because of
    dilution and higher financing costs. New estimates are FFO
    of $2.65 (down .10)in 99 and $3.15 (down .08) in OO.
    This represents 17% FFO growth in 99 and 19% in 2000.
    At 85% payout (Bradford's assumption), the quarterly
    dividends for 99 would be .54, .56, .57 and .58 for a total
    of $2.25.

    Long-term growth 12-15%. Strong buy
    reiterated. Twelve month target of $33 or 12.5 times 99
    FFO.

    These numbers are based on 10,000 (all announced) new
    beds in 99 and 12,700 in 00 (half announced). This
    part is puzzling. CCA will add about 18,000 beds this
    year (5,000+ from USCC). Seems like there would be
    more in 99. Maybe the "unannounced" will be the
    surprise.

 
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