Geo Group Inc (The) (GEO) Announces Earnings Results, Beats Estimates By $0.01 EPS
Geo Group Inc (The) (NYSE:GEO) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01, Bloomberg Earnings reports. Geo Group Inc (The) had a net margin of 7.32% and a return on equity of 15.84%. The business had revenue of $566.75 million for the quarter, compared to analyst estimates of $556.24 million. During the same period last year, the firm earned $0.39 earnings per share. Geo Group Inc (The)’s revenue for the quarter was up 2.2% compared to the same quarter last year. Geo Group Inc (The) updated its Q4 guidance to $0.63-0.65 EPS.
Geo Group Inc (NYSE GEO) traded up 2.61% during trading on Tuesday, reaching $25.95. 1,375,384 shares of the company were exchanged. Geo Group Inc has a one year low of $15.32 and a one year high of $34.32. The firm’s 50 day moving average price is $26.14 and its 200-day moving average price is $28.89. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 18.20 and a beta of 1.52.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Monday, October 23rd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date was Friday, October 20th. Geo Group Inc (The)’s dividend payout ratio is 131.16%.
In related news, Director Norman A. Carlson sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $25.77, for a total value of $257,700.00. Following the sale, the director now directly owns 39,779 shares in the company, valued at approximately $1,025,104.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne N. Foreman sold 17,340 shares of the business’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 disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
GEO has been the topic of a number of recent research reports. 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 report on Tuesday, July 4th. J P Morgan Chase & Co initiated coverage on shares of Geo Group Inc (The) in a research report on Friday, July 14th. They set an “overweight” rating and a $35.00 price target on the stock. BidaskClub lowered shares of Geo Group Inc (The) from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Canaccord Genuity set a $35.00 price target on shares of Geo Group Inc (The) and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, ValuEngine raised shares of Geo Group Inc (The) from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.83.
Geo Group Inc (The) Company Profile
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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