Geo Group Inc. (NYSE:GEO)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research note issued on Friday. They currently have a $28.00 price objective on the real estate investment trust’s stock. Canaccord Genuity’s price target would indicate a potential upside of 20.33% from the stock’s previous close.
Several other equities analysts also recently commented on GEO. Zacks Investment Research upgraded shares of Geo Group from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, June 28th. TheStreet downgraded shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, SunTrust Banks Inc. reduced their price objective on shares of Geo Group from $38.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, September 1st.
Geo Group (NYSE:GEO) traded up 2.41% during midday trading on Friday, hitting $23.83. 301,531 shares of the company were exchanged. The stock has a market capitalization of $1.76 billion, a PE ratio of 12.82 and a beta of 0.97. Geo Group has a one year low of $16.26 and a one year high of $35.14. The firm’s 50-day moving average price is $23.86 and its 200-day moving average price is $30.92.
Geo Group (NYSE:GEO) last released its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Geo Group had a net margin of 6.80% and a return on equity of 14.20%. The business had revenue of $548.35 million for the quarter, compared to the consensus estimate of $547.23 million. During the same period in the prior year, the company posted $0.63 earnings per share. Geo Group’s revenue was up 23.0% compared to the same quarter last year. Equities research analysts anticipate that Geo Group will post $2.89 earnings per share for the current year.
In other news, SVP Ann M. Schlarb acquired 1,500 shares of Geo Group stock in a transaction on Thursday, September 1st. The shares were purchased at an average cost of $19.51 per share, for a total transaction of $29,265.00. Following the completion of the purchase, the senior vice president now directly owns 11,464 shares of the company’s stock, valued at approximately $223,662.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.
Large investors have recently made changes to their positions in the company. Macquarie Group Ltd. bought a new stake in Geo Group during the second quarter worth $4,937,000. Mason Street Advisors LLC bought a new stake in Geo Group during the second quarter worth $494,000. Royal Bank of Canada increased its stake in Geo Group by 57.8% in the second quarter. Royal Bank of Canada now owns 103,579 shares of the real estate investment trust’s stock worth $3,540,000 after buying an additional 37,923 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Geo Group by 12.3% in the second quarter. Public Employees Retirement System of Ohio now owns 5,168 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 567 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in Geo Group by 1.8% in the second quarter. Sterling Capital Management LLC now owns 34,657 shares of the real estate investment trust’s stock worth $1,185,000 after buying an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Geo Group Company Profile
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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