Shares of Geo Group Inc. (NYSE:GEO) have been given a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company. Geo Group’s rating score has improved by 16.5% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokerages have set a one year consensus price objective of $35.00 for the company and are forecasting that the company will post $0.75 EPS for the current quarter, according to Zacks. Zacks has also given Geo Group an industry rank of 101 out of 265 based on the ratings given to related companies.
Several analysts recently weighed in on GEO shares. Zacks Investment Research lowered Geo Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Geo Group in a research note on Thursday, August 11th. SunTrust Banks Inc. reduced their price objective on Geo Group from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, September 1st. Finally, TheStreet lowered Geo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th.
In other news, SVP Ann M. Schlarb purchased 1,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were purchased at an average cost of $19.51 per share, with a total value of $29,265.00. Following the completion of the purchase, the senior vice president now owns 11,464 shares of the company’s stock, valued at approximately $223,662.64. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Geo Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 12,708,613 shares of the real estate investment trust’s stock worth $434,380,000 after buying an additional 555,282 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Geo Group during the second quarter worth approximately $10,388,000. Foundry Partners LLC purchased a new stake in shares of Geo Group during the second quarter worth approximately $9,554,000. Global X Management Co. LLC purchased a new stake in shares of Geo Group during the second quarter worth approximately $8,505,000. Finally, WBI Investments Inc. purchased a new stake in shares of Geo Group during the second quarter worth approximately $8,254,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Geo Group (NYSE:GEO) opened at 23.27 on Tuesday. Geo Group has a 52 week low of $16.26 and a 52 week high of $35.14. The stock has a 50 day moving average price of $23.86 and a 200-day moving average price of $30.92. The company has a market capitalization of $1.72 billion, a PE ratio of 12.52 and a beta of 0.97.
Geo Group (NYSE:GEO) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $548.35 million for the quarter, compared to analyst estimates of $547.23 million. Geo Group had a return on equity of 14.20% and a net margin of 6.80%. Geo Group’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. Equities research analysts expect that Geo Group will post $2.89 EPS for the current year.
About Geo Group
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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