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

The GEO Group (NYSE:GEO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.800-0.840 for the period, compared to the consensus earnings per share estimate of 0.920. 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 Q4 2024 guidance to 0.190-0.220 EPS.

The GEO Group Trading Up 42.1 %

Shares of The GEO Group stock opened at $21.50 on Thursday. The GEO Group has a 12-month low of $8.33 and a 12-month high of $21.54. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $14.01 and its 200-day moving average is $14.09. The stock has a market cap of $3.00 billion, a P/E ratio of 82.69, a P/E/G ratio of 1.56 and a beta of 0.63.

The GEO Group (NYSE:GEO) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The GEO Group had a return on equity of 8.87% and a net margin of 1.92%. The firm had revenue of $607.19 million for the quarter, compared to the consensus estimate of $606.16 million. During the same period last year, the company posted $0.24 earnings per share. Equities research analysts predict that The GEO Group will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $17.00 price target on shares of The GEO Group in a report on Thursday, September 19th. StockNews.com lowered The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Insider Buying and Selling

In other news, Chairman George C. Zoley bought 100,000 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $12.22 per share, for a total transaction of $1,222,000.00. Following the completion of the purchase, the chairman now owns 3,800,904 shares in the company, valued at approximately $46,447,046.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% 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.