The GEO Group (NYSE:GEO) Releases Q3 2022 Earnings Guidance

The GEO Group (NYSE:GEOGet Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.55-$0.57 for the period. The company issued revenue guidance of -. The GEO Group also updated its FY 2022 guidance to $2.40-$2.46 EPS.

The GEO Group Trading Down 1.6 %

Shares of The GEO Group stock traded down $0.11 during trading hours on Friday, reaching $6.85. 1,068,835 shares of the company’s stock were exchanged, compared to its average volume of 1,998,073. The company has a current ratio of 2.63, a quick ratio of 2.50 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $850.06 million, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.29 and a beta of 0.63. The company has a fifty day moving average of $6.66 and a 200-day moving average of $6.52. The GEO Group has a 52-week low of $5.20 and a 52-week high of $9.81.

The GEO Group (NYSE:GEOGet Rating) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.15). The firm had revenue of $588.20 million during the quarter, compared to analysts’ expectations of $561.50 million. The GEO Group had a return on equity of 17.77% and a net margin of 3.41%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. Sell-side analysts forecast that The GEO Group will post 2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised The GEO Group from a hold rating to a buy rating in a research report on Friday, June 24th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. purchased a new position in The GEO Group in the second quarter valued at about $369,000. Bank of America Corp DE raised its position in The GEO Group by 27.0% in the first quarter. Bank of America Corp DE now owns 597,995 shares of the real estate investment trust’s stock valued at $3,953,000 after purchasing an additional 127,290 shares during the period. Quantbot Technologies LP purchased a new position in The GEO Group in the first quarter valued at about $606,000. State Street Corp raised its position in The GEO Group by 1.7% in the first quarter. State Street Corp now owns 4,772,646 shares of the real estate investment trust’s stock valued at $31,547,000 after purchasing an additional 79,771 shares during the period. Finally, Prelude Capital Management LLC purchased a new position in The GEO Group in the first quarter valued at about $182,000. 77.52% of the stock is owned by hedge funds and other institutional investors.

About The GEO Group

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The GEO Group, Inc (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care.

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Earnings History and Estimates for The GEO Group (NYSE:GEO)

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