The GEO Group, Inc. (NYSE:GEO - Free Report) - Equities research analysts at Wedbush increased their Q2 2024 earnings per share estimates for The GEO Group in a research note issued to investors on Monday, April 8th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will earn $0.28 per share for the quarter, up from their prior estimate of $0.23. Wedbush currently has a "Outperform" rating and a $22.00 target price on the stock. The consensus estimate for The GEO Group's current full-year earnings is $0.92 per share. Wedbush also issued estimates for The GEO Group's Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.33 EPS and FY2025 earnings at $1.30 EPS.
The GEO Group (NYSE:GEO - Get Free Report) last posted its earnings results on Thursday, February 15th. The real estate investment trust reported $0.29 EPS for the quarter, topping the consensus estimate of $0.18 by $0.11. The firm had revenue of $608.28 million for the quarter, compared to analyst estimates of $597.47 million. The GEO Group had a return on equity of 9.43% and a net margin of 4.72%. During the same period last year, the company earned $0.58 earnings per share.
The GEO Group Price Performance
GEO stock traded down $0.33 during mid-day trading on Wednesday, reaching $15.59. 2,702,134 shares of the company's stock were exchanged, compared to its average volume of 2,758,577. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.73 and a beta of 0.62. The stock's 50 day moving average is $12.79 and its 200 day moving average is $10.88. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.21 and a quick ratio of 1.21. The GEO Group has a 12-month low of $6.94 and a 12-month high of $16.31.
Insiders Place Their Bets
In other The GEO Group news, CFO Shayn P. March sold 2,500 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $15.00, for a total transaction of $37,500.00. Following the transaction, the chief financial officer now owns 67,830 shares in the company, valued at $1,017,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On The GEO Group
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in The GEO Group by 9.1% during the first quarter. BlackRock Inc. now owns 19,928,438 shares of the real estate investment trust's stock worth $157,235,000 after buying an additional 1,657,703 shares in the last quarter. Vanguard Group Inc. lifted its position in The GEO Group by 2.0% during the third quarter. Vanguard Group Inc. now owns 13,853,097 shares of the real estate investment trust's stock worth $106,668,000 after buying an additional 272,627 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in The GEO Group by 1,116.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,846,814 shares of the real estate investment trust's stock worth $52,491,000 after buying an additional 4,448,385 shares in the last quarter. State Street Corp lifted its position in The GEO Group by 0.4% during the third quarter. State Street Corp now owns 4,822,760 shares of the real estate investment trust's stock worth $37,135,000 after buying an additional 19,042 shares in the last quarter. Finally, Millennium Management LLC lifted its position in The GEO Group by 45.3% during the fourth quarter. Millennium Management LLC now owns 4,340,088 shares of the real estate investment trust's stock worth $47,524,000 after buying an additional 1,352,829 shares in the last quarter. Hedge funds and other institutional investors own 76.10% of the company's stock.
The GEO Group Company Profile
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The GEO Group, Inc NYSE: GEO engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.
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