Q2 2024 EPS Estimates for The GEO Group, Inc. (NYSE:GEO) Reduced by Analyst

The GEO Group, Inc. (NYSE:GEO) – Equities research analysts at Wedbush lowered their Q2 2024 EPS estimates for shares of The GEO Group in a research report issued to clients and investors on Friday, August 2nd. Wedbush analyst J. Mccanless now expects that the real estate investment trust will post earnings of $0.23 per share for the quarter, down from their prior estimate of $0.25. Wedbush has a “Outperform” rating and a $20.00 price target on the stock. The consensus estimate for The GEO Group’s current full-year earnings is $0.97 per share. Wedbush also issued estimates for The GEO Group’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.90 EPS and FY2025 earnings at $1.10 EPS.

Separately, StockNews.com upgraded shares of The GEO Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 30th.

The GEO Group Stock Up 2.4 %

Shares of NYSE GEO opened at $12.83 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.31. The company has a market cap of $1.75 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.32 and a beta of 0.67. The GEO Group has a 52 week low of $6.94 and a 52 week high of $18.05. The business has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $13.68.

The GEO Group (NYSE:GEO) last announced its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $0.22 earnings per share.

Insider Buying and Selling

In other The GEO Group news, EVP Shayn P. March sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.50, for a total value of $43,750.00. Following the sale, the executive vice president now owns 65,330 shares of the company’s stock, valued at approximately $1,143,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Scott Michael Kernan sold 5,300 shares of The GEO Group stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $13.62, for a total transaction of $72,186.00. Following the completion of the sale, the director now directly owns 23,936 shares of the company’s stock, valued at approximately $326,008.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shayn P. March sold 2,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $17.50, for a total transaction of $43,750.00. Following the completion of the transaction, the executive vice president now owns 65,330 shares of the company’s stock, valued at $1,143,275. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The GEO Group

Several hedge funds have recently added to or reduced their stakes in GEO. GAMMA Investing LLC purchased a new stake in shares of The GEO Group in the 4th quarter valued at $48,000. Benjamin F. Edwards & Company Inc. boosted its position in The GEO Group by 399.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,852 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 3,081 shares during the period. Tidemark LLC bought a new position in shares of The GEO Group during the fourth quarter valued at about $71,000. Byrne Asset Management LLC increased its holdings in shares of The GEO Group by 47.8% in the fourth quarter. Byrne Asset Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 2,200 shares during the period. Finally, Avantax Advisory Services Inc. purchased a new position in shares of The GEO Group in the fourth quarter worth about $114,000. Institutional investors own 76.10% of the company’s stock.

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.