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Corrections Corporation of America Message Board

  • GenJackripper GenJackripper Mar 27, 2006 11:33 AM Flag

    Average analysts' Opinion Recommend'n

    With the addition of BofA's initiation of coverage of the company a week ago, and its "Strong Buy" opinion, CXW's Average Recommendation Index has now declined to 2.14, the most favorable that it's been in more than 20 months.

    It's the lowest number it's been since the week ending 7/16/04, when it was @ a 2.00.

    For the week ending 7/23/04, it rose to a 2.17.

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    • Just dropped by to see what was going on with my retirement fund and found an old folks reunion. Well, as a former insider, I can tell you, as can hindsight, that the portrayal of Doc as a liar, but not a crook, is about right. The hubris comment is the closest to the truth.

      As to the bottom, it was 18 cents and one of the outside directors (don't remember which one, but I think it was Henri) disclosed later that he bought a huge amount at that price, and has made a nice profit.

      The current management has done exceptionally well, which is why some of my retirement funds are still in the stock, but we still have that billion dollar nut. Oh well, to paraphrase Senator Dirckson, a bilion here and a billion there, pretty soon we'll be talking about real money.

      The real mystery to me is why RAUGAR stopped posting. Obviously, I know who he is and it's just not like him to disappear so completely from this mb.

    • If we neglect to include the airing of CCA's personnel "laundry" postings, the 4/17/06 posting of message #21837 has stimulated more messages in just 3 days than had been posted since the beginning of the month.

      Ah-h-h, reveries. <g>

    • newMK - Amen to that.
      Good to hear from some of the "old" gang again.
      Maybe that's a good omen of things coming up.
      The General will let us know.

    • actually, i kind of miss the bad old days.......good seeing you all again.

    • I voted for Doc before I voted against him. He cost me a lot of money, but not all of what he made for me (timing is everything).

      Actually he wasn't a crook, just a liar. Not even a habitual liar, just guilty of a poorly timed deceit. Over a longer period of time, hubris clouded his business judgment.

      As charter members of the Happy Brigade, toptalk and I apologize for any mistreatment you may have endured on this mb. Always nice to hear from an old-timer, no matter how scarred.

    • newfiber3 - didn't we all....or many of us at least!

    • my question is: i remember those times very well, why was i accused of all sorts of things by trying to bring everyone's attention to the fact that doc was a crook?

      i support the present management but managed to lose my butt to doc and friends.

    • This week, the sole "Strong Sell"
      recommendation that has been part of the consensus Analyst Opinion index for quite a long time, is no longer evident, resulting in the consensus index number being lowered even further, to 1.67.

      The General is not @ Burpelson AFB at the moment and can not therefor refer to his archival records to determine the last time the stock's consensus index number was as favorable as this. When he returns to his headquarters, he'll look it up and report his findings.

      • 1 Reply to GenJackripper
      • The singular "Strong Sell" which had been part of the Average Recommendation Index (ARI) and had vanished by the end of last week's trading, had been showing here for almost 11 months, since the week ending 5/20/05. Its appearance caused the ARI to jump from a 2.29 to a 3.00.

        There were a total of 7 opinions being reported here at that time and it appears that the degradation came from a "Hold" opinion switching to a "Strong Sell."

        CXW's closing price for the "switch-opinion" week ending on 5/20/05, was $35.90. CXW has NEVER closed a trading week since 5/20/05, at a price lower than $35.90. On a day's closing price basis, it did close lower on 5/24/05 ($35.81), 5/25/05 ($35.50), & 5/26/05 ($35.61), but except for those three days in the week following "s-o" week, CXW's appreciating share price has continued to trend ever higher since, paying no heed to that "Strong Sell" opinion.

        Now, having closed last week's trading @ $44.16, that "Strong Sell" anal-ist may have decided that CXW ain't gonna head south any time soon, may have quit coverage, or else possibly decided that he/she didn't want to continue looking foolish after almost a year of further price appreciation.

        For all we know, the absence of the Strong Sell could be a temporary glitch and it could reappear in a week or so.

        We are presently left with 6 reporting analysts' "opinions."

        As far as the last time CXW's consensus ARI was as favorable/bullish or even more favorable/bullish than 1.67, it has not occurred since the 1:10 reverse split.

        It has not occurred since CXW reverted to its "C" corp. status from having been a REIT (PZN).

        You would have to regress almost 7 years in time, back to its PZN days and to the week ending 5/14/99, when PZN closed @ $17.00 and its market-cap was $1.9902 billion.

        CXW's market-cap ended last week's trading @ $1.7635 billion.

        In the week ending 5/14/99, the 12 anal-ists covering PZN gave it an ARI of 1.33.

        The following week-ending, 5/21/99, its ARI degraded to a 2.00 (closing price: $14.00) and the week after that, 5/28/99, to a 2.42 (closing price: $12.625). That's a -25.74% drop in share price in a fortnight.

        Without going back and checking, the General can't recall the reason(s) for the market's bearish change in tenor towards the company at that time, but since the company had reported 1Q99's earnings on 5/05/99, it might've been a delayed reaction to something either Pappa Doc or Baby Doc had either said or didn't say in the CC, or it could've been prison violence or an escape.

        The General can't recall the "Why?".

15.93-0.09(-0.56%)Aug 31 4:04 PMEDT