On Tuesday, November 29th, Wedbush upgraded The GEO Group (GEO:NYE) from a “Neutral” rating to an “Outperform” rating and boosted their GEO stock price target from $10.00 to $14.00.
GEO Group Stock Price Performance:
The GEO stock was up $0.31 during midday trading on Monday, hitting $11.18. Compared to its normal daily volume of 2,248,906, 40,686 shares.
The firm has a market value of $1.39 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 0.45 and a beta of 0.66. The GEO Group’s 52-week low price is $5.20 and its 52-week high price is $12.44.
The business has a fifty day simple moving average of $9.94 and a two-hundred day simple moving average of $8.27. The company’s debt-to-equity ratio is 1.77, its current ratio is 1.21, and its quick ratio is 1.21.
Geo Stock-Quarterly Earnings Overview:
The most recent earnings report for The GEO Group (GEO:NYE) was published on Thursday, October 27. The real estate investment trust announced quarterly earnings per share of $0.26, below the consensus expectation by ($0.30).
The company had revenue of $616.68 million for the quarter, compared to analyst forecasts of $605.85 million. The GEO Group had a net margin of 3.48% and a return on equity of 16.83%. Sell-side analysts predict that The GEO Group will earn $2.49 per share for the current fiscal year.
Insider Transactions:
In other developments regarding The GEO Group, SVP James H. Black sold 3,000 shares of the Geo stock on Monday, December 12th. At an average price of $10.99 per share, the stock was sold for a total of $32,970.00.
The senior vice president now directly owns 6,373 shares of the Geo stock stock worth $70,039.27 after the sale.
5.40% of the Geo stock shares are held by corporate insiders.
Institutional Trading:
Recently, institutional investors have bought and sold shares in the company.
IFP Advisors Inc. acquired around $79,000 worth of new shares of The GEO Group during the third quarter.
Point72 Hong Kong Ltd. acquired around $34,000 worth of new shares of The GEO Group during the third quarter.
Lazard Asset Management LLC acquired approximately $30,000 worth of new shares in The GEO Group during the second quarter.
US Bancorp DE increased its holdings in The GEO Group shares by 85.0% during the second quarter. US Bancorp DE now holds 4,944 shares of the REIT’s stock, valued at $33,000, after purchasing an additional 2,272 shares during the preceding quarter.
Lastly, James Investment Research Inc. acquired around $34,000 worth of new shares of The GEO Group during the second quarter.
Institutional investors and hedge funds hold 76.58% of the Geo stock.
Company Profile:
The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom.
GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care.
GEO’s worldwide operations include the ownership and/or delivery of support services for 102 facilities totaling approximately 82,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.
