Noble Financial Brokers Lift Earnings Estimates for The GEO Group, Inc. (NYSE:GEO)

The GEO Group, Inc. (NYSE:GEO) – Equities researchers at Noble Financial raised their Q2 2024 EPS estimates for shares of The GEO Group in a research note issued to investors on Wednesday, May 8th. Noble Financial analyst J. Gomes now forecasts that the real estate investment trust will earn $0.26 per share for the quarter, up from their previous forecast of $0.25. The consensus estimate for The GEO Group’s current full-year earnings is $1.01 per share. Noble Financial also issued estimates for The GEO Group’s Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.98 EPS and FY2025 earnings at $1.13 EPS.

Separately, Wedbush lowered their price target on shares of The GEO Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday.

The GEO Group Stock Up 0.1 %

GEO stock opened at $13.62 on Thursday. The business’s 50-day moving average price is $14.05 and its 200-day moving average price is $11.79. The stock has a market cap of $1.73 billion, a P/E ratio of 17.92, a PEG ratio of 1.45 and a beta of 0.59. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.34. The GEO Group has a twelve month low of $6.94 and a twelve month high of $16.31.

The GEO Group (NYSE:GEO) last issued its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The GEO Group had a net margin of 4.72% and a return on equity of 9.43%. The business had revenue of $605.67 million for the quarter, compared to the consensus estimate of $603.84 million. During the same period in the previous year, the firm earned $0.22 EPS.

Institutional Investors Weigh In On The GEO Group

Several large investors have recently made changes to their positions in GEO. Goldman Sachs Group Inc. lifted its position in The GEO Group by 1,116.5% during 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 last quarter. River Road Asset Management LLC purchased a new position in The GEO Group in the fourth quarter worth about $32,230,000. Schonfeld Strategic Advisors LLC bought a new stake in The GEO Group during the third quarter worth approximately $11,113,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in The GEO Group during the fourth quarter worth approximately $3,161,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in The GEO Group by 499.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 307,424 shares of the real estate investment trust’s stock valued at $2,515,000 after purchasing an additional 256,113 shares during the period. 76.10% of the stock is owned by institutional investors.

Insider Transactions at The GEO Group

In other news, CFO Shayn P. March sold 2,500 shares of The GEO Group 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 sale, the chief financial officer now owns 67,830 shares in the company, valued at $1,017,450. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.00% 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.