Geo Group Inc (The) (GEO) Plans Quarterly Dividend of $0.47
Geo Group Inc (The) (NYSE:GEO) declared a quarterly dividend on Thursday, October 12th, RTT News reports. Stockholders of record on Monday, October 23rd will be paid a dividend of 0.47 per share by the real estate investment trust on Monday, October 30th. This represents a $1.88 annualized dividend and a dividend yield of 7.21%.
Geo Group Inc (The) has raised its dividend by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 4 years. Geo Group Inc (The) has a payout ratio of 97.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Geo Group Inc (The) to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 93.1%.
Shares of Geo Group Inc (NYSE:GEO) traded up 0.08% during trading on Thursday, hitting $26.09. The stock had a trading volume of 68,207 shares. The firm has a 50 day moving average price of $26.45 and a 200 day moving average price of $29.39. Geo Group Inc has a 12-month low of $15.07 and a 12-month high of $34.32. The firm has a market cap of $3.19 billion, a P/E ratio of 18.30 and a beta of 1.52.
Geo Group Inc (The) (NYSE:GEO) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.15). Geo Group Inc (The) had a return on equity of 15.84% and a net margin of 7.32%. The firm had revenue of $570.10 million for the quarter, compared to analysts’ expectations of $584.69 million. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Geo Group Inc will post $1.27 earnings per share for the current fiscal year.
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In related news, Director Anne N. Foreman sold 17,340 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $26.67, for a total value of $462,457.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Norman A. Carlson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $25.77, for a total transaction of $257,700.00. Following the completion of the transaction, the director now directly owns 39,779 shares in the company, valued at $1,025,104.83. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
GEO has been the topic of a number of research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 price target on shares of Geo Group Inc (The) in a research note on Monday, June 19th. BidaskClub lowered shares of Geo Group Inc (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of Geo Group Inc (The) from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, July 4th. J P Morgan Chase & Co initiated coverage on shares of Geo Group Inc (The) in a research note on Friday, July 14th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, ValuEngine raised shares of Geo Group Inc (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Geo Group Inc (The) currently has an average rating of “Hold” and an average price target of $33.83.
About Geo Group Inc (The)
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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