The GEO Group (NYSE:GEO) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of The GEO Group (NYSE:GEOGet Rating) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. They currently have $8.25 price target on the real estate investment trust’s stock.

According to Zacks, “The GEO Group, Inc. is an equity real estate investment trust. It specializes in the design, development, financing and operation of correctional, detention and community reentry facilities. It has operations in the United States, Australia, South Africa, and the United Kingdom. The GEO Group, Inc. is headquartered in Boca Raton, Florida. “

Separately, StockNews.com initiated coverage on shares of The GEO Group in a research note on Thursday, March 31st. They issued a hold rating on the stock.

Shares of GEO stock traded up $0.11 on Thursday, hitting $7.25. The stock had a trading volume of 16,055 shares, compared to its average volume of 1,642,438. The firm has a market cap of $888.27 million, a P/E ratio of 18.79, a PEG ratio of 0.30 and a beta of 0.67. The company has a current ratio of 2.50, a quick ratio of 2.49 and a debt-to-equity ratio of 2.87. The GEO Group has a twelve month low of $4.96 and a twelve month high of $11.00. The company has a fifty day moving average price of $6.19 and a two-hundred day moving average price of $7.18.

The GEO Group (NYSE:GEOGet Rating) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The GEO Group had a net margin of 2.92% and a return on equity of 16.97%. The firm had revenue of $551.20 million during the quarter, compared to analyst estimates of $551.47 million. During the same period in the prior year, the business earned $0.60 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts expect that The GEO Group will post 2.35 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. bought a new stake in shares of The GEO Group in the first quarter valued at approximately $71,000. Byrne Asset Management LLC raised its position in shares of The GEO Group by 300.5% in the first quarter. Byrne Asset Management LLC now owns 6,540 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 4,907 shares during the period. SkyView Investment Advisors LLC bought a new stake in shares of The GEO Group in the fourth quarter valued at approximately $58,000. O Shaughnessy Asset Management LLC bought a new stake in shares of The GEO Group in the third quarter valued at approximately $60,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of The GEO Group in the third quarter valued at approximately $65,000. 77.52% of the stock is currently owned by institutional investors and hedge funds.

About The GEO Group (Get Rating)

The GEO Group, Inc owns, leases, and manages secure facilities, processing centers, and reentry centers in the United States, Australia, South Africa, and the United Kingdom. The company operates through four segments: U.S. Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services.

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