Zacks: Geo Group Inc. (GEO) Given Average Recommendation of “Buy” by Brokerages
Geo Group Inc. (NYSE:GEO) has been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company. Geo Group’s rating score has improved by 16.5% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a 1 year consensus price objective of $35.00 for the company and are forecasting that the company will post $0.75 EPS for the current quarter, according to Zacks. Zacks has also assigned Geo Group an industry rank of 94 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently issued reports on GEO shares. Zacks Investment Research lowered Geo Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 price objective on shares of Geo Group in a report on Thursday, August 11th. SunTrust Banks Inc. dropped their price objective on Geo Group from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, September 1st. Finally, TheStreet lowered Geo Group from a “buy” rating to a “hold” rating in a report on Thursday, August 18th.
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Shares of Geo Group (NYSE:GEO) traded up 4.03% during mid-day trading on Tuesday, hitting $24.51. The company’s stock had a trading volume of 428,055 shares. The company has a market cap of $1.82 billion, a PE ratio of 13.18 and a beta of 0.84. Geo Group has a 12-month low of $16.26 and a 12-month high of $35.14. The stock has a 50-day moving average of $22.79 and a 200-day moving average of $30.12.
Geo Group (NYSE:GEO) last released its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ 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. Geo Group had a return on equity of 14.20% and a net margin of 6.80%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, equities research analysts forecast that Geo Group will post $2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Monday, October 31st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 11.04%. Geo Group’s dividend payout ratio is presently 139.79%.
In other news, SVP Ann M. Schlarb bought 1,500 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were bought at an average cost of $19.51 per share, for a total transaction of $29,265.00. Following the completion of the transaction, the senior vice president now owns 11,464 shares in the company, valued at $223,662.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Geo Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 12,708,613 shares of the real estate investment trust’s stock worth $434,380,000 after buying an additional 555,282 shares during the last quarter. BlackRock Fund Advisors increased its stake in Geo Group by 3.5% in the second quarter. BlackRock Fund Advisors now owns 5,273,962 shares of the real estate investment trust’s stock worth $180,264,000 after buying an additional 179,903 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Geo Group by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,174,487 shares of the real estate investment trust’s stock worth $74,324,000 after buying an additional 22,096 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Geo Group by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 1,639,202 shares of the real estate investment trust’s stock worth $56,028,000 after buying an additional 71,522 shares during the last quarter. Finally, State Street Corp increased its stake in Geo Group by 2.8% in the first quarter. State Street Corp now owns 1,530,494 shares of the real estate investment trust’s stock worth $53,061,000 after buying an additional 42,068 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.
About Geo Group
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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