The GEO Group Inc (GEO) Trading 0.4% Higher
The GEO Group Inc (NYSE:GEO) shares traded up 0.4% during mid-day trading on Wednesday . The stock traded as high as $20.31 and last traded at $19.81, with a volume of 1,542,074 shares. The stock had previously closed at $19.74.
Several research analysts have issued reports on the company. Canaccord Genuity dropped their price objective on The GEO Group from $38.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. Zacks Investment Research lowered The GEO Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, TheStreet lowered The GEO Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th.
The firm’s 50 day moving average price is $30.40 and its 200 day moving average price is $31.85. The firm has a market capitalization of $1.48 billion and a P/E ratio of 10.78.
The GEO Group (NYSE:GEO) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm earned $548.35 million during the quarter, compared to analyst estimates of $547.23 million. The GEO Group’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Equities research analysts predict that The GEO Group Inc will post $2.89 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were issued a $0.65 dividend. The ex-dividend date was Thursday, July 28th. This represents a $2.60 dividend on an annualized basis and a yield of 12.97%.
A hedge fund recently raised its stake in The GEO Group stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in The GEO Group Inc (NYSE:GEO) by 102.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 approximately 0.05% of The GEO Group worth $1,091,000 as of its most recent filing with the SEC.
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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