Geo Group Inc. (GEO) Trading 18.4% Higher
Geo Group Inc. (NYSE:GEO)’s share price traded up 18.4% on Friday . The company traded as high as $23.93 and last traded at $23.10, with a volume of 11,973,655 shares traded. The stock had previously closed at $19.51.
A number of equities analysts have recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Geo Group in a research note on Thursday, August 11th. Zacks Investment Research lowered Geo Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 10th.
The firm has a market capitalization of $1.72 billion and a PE ratio of 12.52. The firm has a 50-day moving average price of $33.34 and a 200-day moving average price of $32.20.
Geo Group (NYSE:GEO) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $548.35 million for the quarter, compared to analyst estimates of $547.23 million. The business’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, equities research analysts forecast that Geo Group Inc. will post $2.89 EPS for the current year.
The company 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 of this dividend was Thursday, July 28th. This represents a $2.60 dividend on an annualized basis and a yield of 13.33%.
A number of hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 in the last quarter. State of Tennessee Treasury Department purchased a new stake in shares of Geo Group during the fourth quarter worth approximately $1,667,000. Systematic Financial Management LP purchased a new stake in shares of Geo Group during the fourth quarter worth approximately $1,786,000. Finally, Wells Fargo & Company MN boosted its stake 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 in the last quarter.
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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