Share Repurchase Program Initiated by Geo Group (NYSE:GEO) Board

Geo Group (NYSE:GEO) announced that its Board of Directors has approved a share repurchase program on Wednesday, August 6th, RTT News reports. The company plans to repurchase $300.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Geo Group Stock Performance

NYSE GEO opened at $22.85 on Thursday. The company has a market capitalization of $3.23 billion, a PE ratio of 120.26, a P/E/G ratio of 2.84 and a beta of 0.75. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.29 and a quick ratio of 1.29. Geo Group has a 1 year low of $11.75 and a 1 year high of $36.46. The company has a fifty day moving average of $25.26 and a two-hundred day moving average of $27.26.

Geo Group (NYSE:GEO) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Geo Group had a net margin of 1.19% and a return on equity of 7.36%. The business had revenue of $636.17 million for the quarter, compared to analyst estimates of $621.55 million. During the same period in the previous year, the business posted $0.23 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Geo Group will post 0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Geo Group from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Jones Trading dropped their price target on shares of Geo Group from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Geo Group in a research note on Monday, June 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Geo Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Geo Group Company Profile

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.