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

The GEO Group (NYSE:GEO) updated its FY 2024 earnings guidance on Sunday. The company provided EPS guidance of 0.870-1.020 for the period, compared to the consensus EPS estimate of 1.010. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.5 billion.

Analyst Ratings Changes

Separately, Wedbush lowered their target price on shares of The GEO Group from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, May 8th.

The GEO Group Trading Down 0.1 %

Shares of The GEO Group stock opened at $13.91 on Wednesday. The firm has a market capitalization of $1.90 billion, a PE ratio of 19.58, a P/E/G ratio of 1.38 and a beta of 0.59. The GEO Group has a twelve month low of $6.94 and a twelve month high of $16.31. The firm’s 50-day moving average price is $14.40 and its 200 day moving average price is $12.25. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.31.

The GEO Group (NYSE:GEO) last issued its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $605.67 million during the quarter, compared to analysts’ expectations of $603.84 million. The GEO Group had a net margin of 4.51% and a return on equity of 8.88%. During the same period in the prior year, the business posted $0.22 earnings per share. On average, sell-side analysts predict that The GEO Group will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at The GEO Group

In other The GEO Group news, Director Scott Michael Kernan sold 5,300 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $13.62, for a total value of $72,186.00. Following the completion of the sale, the director now owns 23,936 shares in the company, valued at approximately $326,008.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Shayn P. March sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $15.00, for a total transaction of $37,500.00. Following the completion of the sale, the chief financial officer now owns 67,830 shares in the company, valued at approximately $1,017,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Michael Kernan sold 5,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $13.62, for a total transaction of $72,186.00. Following the sale, the director now owns 23,936 shares of the company’s stock, valued at approximately $326,008.32. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.

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.