The GEO Group Inc (GEO) Sees Unusually-High Trading Volume
The GEO Group Inc (NYSE:GEO) shares saw unusually-strong trading volume on Monday . Approximately 4,093,067 shares changed hands during trading, an increase of 49% from the previous session’s volume of 2,748,685 shares.The stock last traded at $24.60 and had previously closed at $23.68.
Several research analysts have weighed in on GEO shares. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 price target on shares of The GEO Group in a research report on Thursday, August 11th. Zacks Investment Research raised The GEO Group from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Wednesday, May 4th. Finally, TheStreet lowered The GEO Group from a “buy” rating to a “hold” rating in a research report on Thursday.
The firm has a 50-day moving average of $32.78 and a 200-day moving average of $32.17. The company has a market cap of $1.82 billion and a PE ratio of 13.25.
The GEO Group (NYSE:GEO) last released 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 business had revenue of $548.35 million for the quarter, compared to analyst estimates of $547.23 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities research analysts forecast that The GEO Group Inc will post $2.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.60 annualized dividend and a yield of 10.56%.
Other large investors have added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in The 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 in the last quarter. Systematic Financial Management LP acquired a new stake in The GEO Group during the fourth quarter valued at approximately $1,786,000. Finally, Wells Fargo & Company MN boosted its stake in The 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 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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