Geo Group Inc. (GEO) Stock Price Up 18.4%
Geo Group Inc. (NYSE:GEO)’s share price rose 18.4% during trading on Friday . The stock traded as high as $23.93 and last traded at $23.10, with a volume of 11,973,655 shares changing hands. The stock had previously closed at $19.51.
GEO has been the subject of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 price target on shares of Geo Group in a report on Thursday, August 11th. Zacks Investment Research raised Geo Group from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, May 4th. Finally, TheStreet cut Geo Group from a “buy” rating to a “hold” rating in a report on Thursday.
The stock has a 50-day moving average price of $33.04 and a 200 day moving average price of $32.16. The company has a market capitalization of $1.75 billion and a price-to-earnings ratio of 12.74.
Geo Group (NYSE:GEO) last announced its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company earned $548.35 million during the quarter, compared to the consensus estimate of $547.23 million. During the same quarter in the previous year, the business earned $0.63 EPS. Geo Group’s revenue was up 23.0% on a year-over-year basis. Equities analysts predict that Geo Group Inc. will post $2.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 10.98%. The ex-dividend date of this dividend was Thursday, July 28th.
Other institutional investors recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted 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 acquired a new position in Geo Group during the fourth quarter worth approximately $1,786,000. Finally, Wells Fargo & Company MN boosted its position in 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.