Wells Fargo & Co. reaffirmed their hold rating on shares of Geo Group Inc. (NYSE:GEO) in a research report sent to investors on Tuesday morning.
Several other research firms have also commented on GEO. TheStreet lowered Geo Group from a buy rating to a hold rating in a research report on Thursday, August 18th. Canaccord Genuity lifted their price target on Geo Group from $37.00 to $38.00 and gave the stock a buy rating in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Geo Group from a strong sell rating to a hold rating in a research report on Tuesday, November 1st. Finally, SunTrust Banks Inc. dropped their price target on Geo Group from $38.00 to $32.00 and set a buy rating for the company in a research report on Thursday, September 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Geo Group currently has an average rating of Buy and an average target price of $31.33.
Geo Group (NYSE:GEO) opened at 32.51 on Tuesday. The stock has a market cap of $2.41 billion, a P/E ratio of 16.85 and a beta of 1.03. Geo Group has a 12-month low of $16.26 and a 12-month high of $35.14. The firm’s 50 day moving average price is $25.84 and its 200-day moving average price is $28.87.
Geo Group (NYSE:GEO) last issued its quarterly earnings data on Thursday, November 3rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.16. The firm had revenue of $554.40 million for the quarter, compared to analysts’ expectations of $567.16 million. Geo Group had a net margin of 6.78% and a return on equity of 14.70%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Equities research analysts anticipate that Geo Group will post $2.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, October 31st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 8.00%. The ex-dividend date was Thursday, October 27th. Geo Group’s payout ratio is currently 134.72%.
In other news, SVP Ann M. Schlarb acquired 1,500 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was acquired at an average price of $19.51 per share, with a total value of $29,265.00. Following the completion of the purchase, the senior vice president now directly owns 11,464 shares in the company, valued at $223,662.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Geo Group by 0.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,981 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 85 shares during the last quarter. State Street Corp increased its stake in shares of Geo Group by 2.8% in the first quarter. State Street Corp now owns 1,530,494 shares of the real estate investment trust’s stock valued at $53,061,000 after buying an additional 42,068 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Geo Group by 0.3% in the third quarter. Foundry Partners LLC now owns 280,260 shares of the real estate investment trust’s stock valued at $6,665,000 after buying an additional 731 shares during the last quarter. LPL Financial LLC increased its stake in shares of Geo Group by 10.7% in the first quarter. LPL Financial LLC now owns 73,336 shares of the real estate investment trust’s stock valued at $2,474,000 after buying an additional 7,116 shares during the last quarter. Finally, Hillcrest Asset Management LLC purchased a new stake in shares of Geo Group during the first quarter valued at about $7,054,000. 88.16% of the stock is owned by institutional investors and hedge funds.
About Geo Group