Brokers Issue Forecasts for The GEO Group, Inc.’s Q3 2024 Earnings (NYSE:GEO)

The GEO Group, Inc. (NYSE:GEO) – Equities researchers at Wedbush lowered their Q3 2024 earnings per share (EPS) estimates for shares of The GEO Group in a report issued on Thursday, August 8th. Wedbush analyst J. Mccanless now expects that the real estate investment trust will post earnings per share of $0.22 for the quarter, down from their previous forecast of $0.25. Wedbush has a “Outperform” rating and a $19.00 price objective on the stock. The consensus estimate for The GEO Group’s current full-year earnings is $0.97 per share. Wedbush also issued estimates for The GEO Group’s FY2024 earnings at $0.88 EPS and FY2025 earnings at $1.05 EPS.

The GEO Group (NYSE:GEO) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $607.19 million for the quarter, compared to the consensus estimate of $606.16 million. The GEO Group had a return on equity of 8.88% and a net margin of 4.51%. During the same period in the previous year, the firm posted $0.24 EPS.

Separately, StockNews.com lowered The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday.

The GEO Group Price Performance

The GEO Group stock opened at $12.22 on Friday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.32 and a beta of 0.67. The stock’s 50 day moving average is $14.39 and its 200-day moving average is $13.68. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.31. The GEO Group has a 12 month low of $6.94 and a 12 month high of $18.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GEO. Charles Schwab Investment Management Inc. raised its stake in The GEO Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,012,341 shares of the real estate investment trust’s stock worth $32,624,000 after acquiring an additional 63,101 shares in the last quarter. Goldman Sachs Group Inc. increased its position in The GEO Group by 1,116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,846,814 shares of the real estate investment trust’s stock worth $52,491,000 after purchasing an additional 4,448,385 shares in the last quarter. Vanguard Group Inc. boosted its position in The GEO Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 13,575,361 shares of the real estate investment trust’s stock valued at $147,021,000 after buying an additional 58,184 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in The GEO Group in the fourth quarter valued at approximately $3,161,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of The GEO Group during the fourth quarter worth $662,000. 76.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Scott Michael Kernan sold 5,300 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $13.62, for a total transaction of $72,186.00. Following the sale, the director now owns 23,936 shares of the company’s stock, valued at $326,008.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The GEO Group news, EVP Shayn P. March sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.50, for a total value of $43,750.00. Following the transaction, the executive vice president now directly owns 65,330 shares of the company’s stock, valued at approximately $1,143,275. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Michael Kernan sold 5,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $13.62, for a total transaction of $72,186.00. Following the completion of the transaction, the director now owns 23,936 shares of the company’s stock, valued at $326,008.32. The disclosure for this sale can be found here. Company 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.