The GEO Group, Inc. to Post Q1 2024 Earnings of $0.21 Per Share, Sidoti Csr Forecasts (NYSE:GEO)

The GEO Group, Inc. (NYSE:GEO) – Equities research analysts at Sidoti Csr increased their Q1 2024 EPS estimates for The GEO Group in a note issued to investors on Thursday, April 11th. Sidoti Csr analyst B. Mccarthy now anticipates that the real estate investment trust will post earnings per share of $0.21 for the quarter, up from their previous estimate of $0.20. The consensus estimate for The GEO Group’s current full-year earnings is $1.01 per share. Sidoti Csr also issued estimates for The GEO Group’s Q2 2024 earnings at $0.24 EPS, Q3 2024 earnings at $0.28 EPS, Q4 2024 earnings at $0.30 EPS, FY2024 earnings at $1.04 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.56 EPS.

Separately, Wedbush raised their price objective on shares of The GEO Group from $15.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, April 8th.

The GEO Group Stock Performance

GEO stock opened at $15.37 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $1.95 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.57 and a beta of 0.62. The firm has a 50 day simple moving average of $12.96 and a 200 day simple moving average of $11.01. The GEO Group has a 52 week low of $6.94 and a 52 week high of $16.31.

The GEO Group (NYSE:GEO) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.29 EPS for the quarter, topping the consensus estimate of $0.18 by $0.11. The business had revenue of $608.28 million during the quarter, compared to analysts’ expectations of $597.47 million. The GEO Group had a net margin of 4.72% and a return on equity of 9.43%. During the same period last year, the company posted $0.58 earnings per share.

Hedge Funds Weigh In On The GEO Group

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of The GEO Group by 9.1% in the first quarter. BlackRock Inc. now owns 19,928,438 shares of the real estate investment trust’s stock valued at $157,235,000 after purchasing an additional 1,657,703 shares during the period. Vanguard Group Inc. raised its position in shares of The GEO Group by 2.0% in the third quarter. Vanguard Group Inc. now owns 13,853,097 shares of the real estate investment trust’s stock valued at $106,668,000 after purchasing an additional 272,627 shares during the period. Goldman Sachs Group Inc. raised its position in shares of The GEO Group by 1,116.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,846,814 shares of the real estate investment trust’s stock valued at $52,491,000 after purchasing an additional 4,448,385 shares during the period. State Street Corp raised its position in shares of The GEO Group by 0.4% in the third quarter. State Street Corp now owns 4,822,760 shares of the real estate investment trust’s stock valued at $37,135,000 after purchasing an additional 19,042 shares during the period. Finally, Millennium Management LLC raised its position in shares of The GEO Group by 45.3% in the fourth quarter. Millennium Management LLC now owns 4,340,088 shares of the real estate investment trust’s stock valued at $47,524,000 after purchasing an additional 1,352,829 shares during the period. Institutional investors own 76.10% of the company’s stock.

Insider Activity at The GEO Group

In related news, CFO Shayn P. March sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $15.00, for a total transaction of $37,500.00. Following the transaction, the chief financial officer now owns 67,830 shares of the company’s stock, valued at $1,017,450. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.30% of the company’s stock.

About The GEO Group

The GEO Group, Inc (NYSE: GEO) engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.