The GEO Group (NYSE:GEO) Updates FY 2024 Earnings Guidance

The GEO Group (NYSE:GEO - Get Free Report) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share (EPS) guidance of 0.870-0.990 for the period, compared to the consensus estimate of 0.940. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an outperform rating and issued a $15.00 target price on shares of The GEO Group in a research note on Thursday, March 21st.

The GEO Group Trading Up 7.8 %

The GEO Group stock traded up $1.09 during trading on Friday, hitting $15.14. The company's stock had a trading volume of 5,293,583 shares, compared to its average volume of 2,958,521. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 1.53 and a beta of 0.62. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.21 and a current ratio of 1.21. The stock's fifty day moving average is $12.53 and its 200 day moving average is $10.70. The GEO Group has a 1-year low of $6.94 and a 1-year high of $15.43.

The GEO Group (NYSE:GEO - Get Free Report) last announced its quarterly 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 company had revenue of $608.28 million during 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 in the prior year, the firm posted $0.58 earnings per share. As a group, equities research analysts predict that The GEO Group will post 0.92 EPS for the current year.

Institutional Investors Weigh In On The GEO Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in shares of The GEO Group by 203.2% in the first quarter. Advisory Services Network LLC now owns 4,326 shares of the real estate investment trust's stock worth $34,000 after buying an additional 2,899 shares during the period. Quarry LP purchased a new stake in shares of The GEO Group in the first quarter worth about $35,000. Clear Street Markets LLC purchased a new stake in shares of The GEO Group in the fourth quarter worth about $40,000. Tower Research Capital LLC TRC boosted its position in shares of The GEO Group by 104.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,857 shares of the real estate investment trust's stock worth $42,000 after buying an additional 2,998 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of The GEO Group in the second quarter worth about $44,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

About The GEO Group

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.