Geo Group Inc. (GEO) Reaches New 12-Month Low at $16.26
Geo Group Inc. (NYSE:GEO) shares hit a new 52-week low on Thursday . The company traded as low as $16.26 and last traded at $19.00, with a volume of 12,931,531 shares changing hands. The stock had previously closed at $32.29.
GEO has been the subject of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $38.00 price target on shares of Geo Group in a research report on Thursday, August 11th. Zacks Investment Research upgraded Geo Group from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, May 4th.
The company has a 50 day moving average price of $33.75 and a 200-day moving average price of $32.29. The company has a market capitalization of $1.44 billion and a PE ratio of 10.4895.
Geo Group (NYSE:GEO) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $548.35 million for the quarter, compared to analyst estimates of $547.23 million. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. On average, equities analysts expect that Geo Group Inc. will post $2.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were given a dividend of $0.65 per share. The ex-dividend date was Thursday, July 28th. This represents a $2.60 dividend on an annualized basis and a yield of 8.05%.
A number of hedge funds and institutional investors have made changes to their positions in GEO. State of Tennessee Treasury Department acquired a new position in shares of Geo Group during the fourth quarter worth about $1,667,000. Systematic Financial Management LP acquired a new position in shares of Geo Group during the fourth quarter worth about $1,786,000. Wells Fargo & Company MN raised its position in shares of Geo Group by 6.4% in the fourth quarter. Wells Fargo & Company MN now owns 469,580 shares of the real estate investment trust’s stock worth $13,575,000 after buying an additional 28,194 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Geo Group by 102.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,725 shares of the real estate investment trust’s stock worth $1,091,000 after buying an additional 19,125 shares during the period.
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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