Wedbush Weighs in on The GEO Group, Inc.'s Q1 2024 Earnings (NYSE:GEO)

The GEO Group, Inc. (NYSE:GEO - Free Report) - Equities research analysts at Wedbush increased their Q1 2024 earnings estimates for The GEO Group in a research report issued on Monday, April 8th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will post earnings of $0.19 per share for the quarter, up from their prior forecast of $0.18. 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 FY2024 earnings at $1.10 EPS.

The GEO Group (NYSE:GEO - Get Free Report) last issued 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 business had revenue of $608.28 million during the quarter, compared to analysts' expectations 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 quarter last year, the firm posted $0.58 earnings per share.

The GEO Group Stock Up 0.5 %

NYSE:GEO traded up $0.08 on Thursday, hitting $15.67. 1,704,045 shares of the company's stock traded hands, compared to its average volume of 2,743,517. The firm has a 50-day moving average price of $12.88 and a 200-day moving average price of $10.91. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.99 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.73 and a beta of 0.62. The GEO Group has a 1 year low of $6.94 and a 1 year high of $16.31.

Institutional Trading of The GEO Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goodman Advisory Group LLC bought a new position in The GEO Group in the 3rd quarter worth $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in The GEO Group during the third quarter valued at approximately $30,000. Advisory Services Network LLC raised its stake in The GEO Group by 203.2% during the first quarter. Advisory Services Network LLC now owns 4,326 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 2,899 shares in the last quarter. Quarry LP acquired a new stake in shares of The GEO Group during the 1st quarter worth about $35,000. Finally, Clear Street Markets LLC bought a new position in shares of The GEO Group in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 76.10% of the company's stock.

Insider Activity at The GEO Group

In other news, CFO Shayn P. March sold 2,500 shares of the company's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $15.00, for a total value of $37,500.00. Following the transaction, the chief financial officer now directly owns 67,830 shares of the company's stock, valued at $1,017,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is currently owned by insiders.

The GEO Group Company Profile

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.