Geo Group Inc. (GEO) Sets New 1-Year 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. The stock had previously closed at $32.29.
GEO has been the topic of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Geo Group in a report on Thursday, April 28th. Zacks Investment Research raised Geo Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Wednesday, May 4th. Finally, TheStreet lowered Geo Group from a “buy” rating to a “hold” rating in a report on Thursday.
The stock has a market cap of $1.75 billion and a P/E ratio of 12.74. The firm’s 50 day moving average is $33.04 and its 200-day moving average is $32.16.
Geo Group (NYSE:GEO) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm earned $548.35 million during the quarter, compared to analyst estimates of $547.23 million. During the same quarter in the previous year, the business posted $0.63 EPS. Geo Group’s revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Geo Group Inc. will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.60 annualized dividend and a dividend yield of 10.98%.
Several hedge funds and institutional investors have recently modified their holdings of GEO. 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 valued at $1,091,000 after buying an additional 19,125 shares during the last quarter. Systematic Financial Management LP purchased a new position in shares of Geo Group during the fourth quarter valued at approximately $1,786,000. Finally, 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 valued at $13,575,000 after buying an additional 28,194 shares during 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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