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

The GEO Group (NYSE:GEO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.820-0.930 for the period, compared to the consensus earnings per share estimate of 0.900. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. The GEO Group also updated its FY24 guidance to $0.82 to $0.93 EPS.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEO. StockNews.com lowered shares of The GEO Group from a buy rating to a hold rating in a report on Wednesday. Wedbush reaffirmed an outperform rating and issued a $19.00 target price on shares of The GEO Group in a research report on Wednesday.

The GEO Group Trading Down 7.2 %

Shares of NYSE:GEO traded down $0.92 on Wednesday, hitting $11.91. The company had a trading volume of 3,402,782 shares, compared to its average volume of 2,597,871. The firm’s 50-day simple moving average is $14.50 and its two-hundred day simple moving average is $13.68. The GEO Group has a 1 year low of $6.94 and a 1 year high of $18.05. 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 firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.32 and a beta of 0.67.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The GEO Group had a net margin of 4.51% and a return on equity of 8.88%. The business had revenue of $605.67 million for the quarter, compared to analysts’ expectations of $603.84 million. During the same period last year, the business earned $0.22 earnings per share. Equities analysts anticipate that The GEO Group will post 0.97 earnings per share for the current fiscal year.

Insider Activity at The GEO Group

In related news, Director Scott Michael Kernan sold 5,300 shares of The GEO Group stock in a transaction dated 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 transaction, the director now directly owns 23,936 shares of the company’s stock, valued at approximately $326,008.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Scott Michael Kernan sold 5,300 shares of The GEO Group stock in a transaction dated 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 transaction, the director now directly owns 23,936 shares of the company’s stock, valued at approximately $326,008.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Shayn P. March sold 2,500 shares of The GEO Group stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.50, for a total transaction of $43,750.00. Following the transaction, the executive vice president now directly 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 corporate 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.