If you’re hunting for Corrections Corporation of America stock, you’re going to have a hard time finding it on a ticker tape today. That’s because the company technically doesn’t exist under that name anymore. Back in 2016, they rebranded to CoreCivic, and if you want to trade them, you’re looking for the ticker CXW on the New York Stock Exchange.
Honestly, the name change was a massive PR move. The private prison industry was taking a beating in the press and from activists, so "CoreCivic" sounded a lot friendlier than "Corrections Corporation." But beneath the fresh coat of paint, it’s still the same massive machine managing tens of thousands of beds across the country.
As of January 2026, the stock is sitting around $20.01. It’s been a wild ride lately. Just look at the 52-week range—it has swung from a low of $15.95 to a high of $23.85. If you've been watching this space, you know that private prison stocks don't just move on earnings; they move on the political winds.
The Political Rollercoaster: Why CXW is Volatile
Investing in this sector feels like betting on an election. One minute, the federal government is trying to phase out private contracts; the next, a new administration is doubling down on them.
Right now, in 2026, we're seeing a major resurgence. The current administration has completely rescinded the old Biden-era executive orders that were supposed to end the Department of Justice’s reliance on private facilities. Executive Order 14148, signed in early 2025, basically opened the floodgates again.
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ICE is the Real Revenue Driver
While everyone talks about "prisons," the real money for CoreCivic is coming from Immigration and Customs Enforcement (ICE).
- The government is currently pushing for massive deportation numbers—some goals are as high as 1 million people per year.
- To do that, they need beds.
- CoreCivic is "mothballing" fewer facilities and activating "idle" ones, like the Diamondback Correctional Facility in Oklahoma.
That Diamondback facility alone is expected to bring in $100 million once it's fully operational later this year. Then you've got the California City Immigration Processing Center, which is projected to rake in $130 million annually. When you add it all up, analysts are looking at a revenue potential of roughly $2.5 billion by mid-2026.
The Financial Reality of "Bed Guarantees"
You’ve probably heard the term "occupancy clauses" or "bed guarantees." It sounds kinda dark because it is. Basically, most of these contracts require the government to pay for a certain percentage of beds—usually 80% to 100%—regardless of whether there's actually a person in them.
This creates a floor for their revenue. Even if crime drops or border crossings slow down, the checks keep coming. It’s a very "sticky" business model. Over the last five years, their contract renewal rate has stayed at a staggering 96%. Once a government starts using a private facility, they find it incredibly hard to stop.
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Dividends vs. Share Buybacks
If you're an income investor, don't get your hopes up. CoreCivic cut its dividend years ago. As of early 2026, the yield is still 0.00%.
Instead of paying out cash to shareholders, they’ve been obsessed with two things:
- Paying down debt. They had a "strained" balance sheet for a while and needed to clean it up to keep lenders happy.
- Share buybacks. In late 2025, the board authorized another $200 million for buybacks. They’re betting that the stock is undervalued, so they’re eating up their own shares to boost the price for those who stick around.
The Risks Nobody Mentions
It’s not all easy money. The biggest threat to CoreCivic isn’t actually a politician; it’s the ESG (Environmental, Social, and Governance) movement.
Banks like JPMorgan Chase and Wells Fargo have previously distanced themselves from the industry due to intense public pressure. If a company can't get a loan, it can't build new facilities or refinance old ones. CoreCivic has had to get creative with its financing, often paying higher interest rates than a "normal" company of its size would.
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Legal challenges are also a constant headache. In New Jersey, there was a massive fight over a law that tried to ban private immigration detention. A federal appeals court eventually struck the law down in 2025, but these battles happen in every state. Every time a new lawsuit is filed, the stock price takes a hit.
What to Watch Moving Into Late 2026
If you’re looking at corrections corporation of america stock (or CoreCivic, rather), keep your eyes on the "Safety" segment's start-up costs. In late 2025, they actually missed some earnings targets because it costs a lot of money to hire staff and get a facility ready for a new contract.
Watch these three indicators:
- The 2026 Earnings Per Share (EPS): Analysts are forecasting around $1.01 to $1.14. If they beat this, the stock could finally break that $24 resistance level.
- ICE Contract Durations: Most of the new contracts signed in 2025 were for 24 months. We'll start seeing renewal talk again soon.
- Interest Rates: Since they carry a lot of debt, any move by the Fed impacts their bottom line more than a tech company.
The private prison industry is a business of "shadow infrastructure." It’s controversial, politically charged, and financially complex. Whether you think it’s a smart value play or a moral disaster, the numbers show a company that is currently expanding its footprint faster than it has in a decade.
Actionable Insights for Investors:
- Stop searching for CCA: Use the ticker CXW to get real-time data; the old name is just for the history books.
- Monitor "Idle" Assets: The company's growth right now isn't from building new prisons, but from "activating" empty ones. Track announcements regarding facilities in Kansas and Oklahoma.
- Check the 10-K for Debt Maturities: Ensure they aren't facing a massive "debt wall" in the next 18 months, as their cost of capital remains higher than market averages due to industry stigma.