Geo Group Inc. (GEO) Trading Down 2.7%
Geo Group Inc. (NYSE:GEO)’s share price traded down 2.7% during mid-day trading on Tuesday . The stock traded as low as $23.11 and last traded at $23.97, with a volume of 3,246,272 shares traded. The stock had previously closed at $24.63.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Geo Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, May 4th. Canaccord Genuity restated a “hold” rating on shares of Geo Group in a research note on Monday, June 13th. Finally, TheStreet cut Geo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th.
The stock’s 50 day moving average price is $32.52 and its 200-day moving average price is $32.13. The company has a market cap of $1.74 billion and a P/E ratio of 12.65.
Geo Group (NYSE:GEO) last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company earned $548.35 million during the quarter, compared to analyst estimates of $547.23 million. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that Geo Group Inc. will post $2.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.60 annualized dividend and a yield of 11.06%.
An institutional investor recently raised its position in Geo Group stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Geo Group Inc. (NYSE:GEO) by 102.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,725 shares of the real estate investment trust’s stock after buying an additional 19,125 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Geo Group worth $1,091,000 at the end of the most recent 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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