The correlation coefficient gives information about the behavior of two variables and it should always be between -1 and 1.
Since the value of the correlation coefficient is 1.18, then the student made an error computing the correlation coefficient, because the number has to be between -1 and 1.
When the coefficient is near the value of 1, it means that there is a strong positive relationship between the variables (y increases as x increases).
When the coefficient is near the value of -1, it means that there is a strong negative relationship between the variables (y decreases as x increases).
When the value is not near 1 or -1, and it's rather near to 0, then there is a weak relationship (it will be a positive or negative relationship depending on the sign).
Either case, the coefficient cannot be greater than 1 or lower than -1.