Shares of Geo Group Inc (The) (NYSE:GEO – Get Free Report) have been given an average recommendation of “Buy” by the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $40.00.
Several analysts have weighed in on GEO shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Geo Group in a research note on Friday, September 4th. Wall Street Zen lowered shares of Geo Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. JonesTrading restated a “buy” rating and set a $40.00 target price on shares of Geo Group in a research report on Tuesday, October 6th. Zacks Research raised shares of Geo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, UBS Group reiterated a “buy” rating on shares of Geo Group in a research report on Tuesday, October 6th.
View Our Latest Analysis on Geo Group
Insiders Place Their Bets
In other news, insider Ronald A. Brack sold 7,000 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $32.00, for a total transaction of $224,000.00. Following the completion of the sale, the insider directly owned 71,614 shares in the company, valued at approximately $2,291,648. This represents a 8.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Matthew Albence sold 11,797 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $31.45, for a total value of $371,015.65. Following the sale, the vice president directly owned 87,602 shares in the company, valued at approximately $2,755,082.90. This trade represents a 11.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,797 shares of company stock worth $911,916. Corporate insiders own 4.98% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Geo Group in the second quarter valued at $570,744,000. Pentwater Capital Management LP acquired a new position in Geo Group during the 2nd quarter worth approximately $312,698,000. Cooper Creek Partners Management LLC raised its stake in Geo Group by 14.2% during the 1st quarter. Cooper Creek Partners Management LLC now owns 5,314,006 shares of the real estate investment trust’s stock worth $89,328,000 after buying an additional 661,281 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Geo Group during the second quarter valued at approximately $118,673,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Geo Group by 141.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,895,780 shares of the real estate investment trust’s stock valued at $118,704,000 after acquiring an additional 2,284,770 shares in the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.
Geo Group News Roundup
Here are the key news stories impacting Geo Group this week:
- Positive Sentiment: GEO secured a 10-year, approximately $1.5 billion contract to continue operating the 1,635-bed Northwest ICE Processing Center in Tacoma, Washington. The agreement provides long-term revenue visibility and reinforces the company’s position as a major private detention-services provider. The GEO Group Announces New Management Contract for Northwest ICE Processing Center
- Positive Sentiment: The Tacoma award follows federal approval of a new management agreement and is expected to support GEO’s backlog and facility utilization. However, the reports do not provide detailed profitability, capital-spending or margin terms, so the contract’s effect on earnings will depend on operating costs. Feds Approve $1.5 Billion Contract for GEO Group to Continue Running Tacoma ICE Lockup
- Neutral Sentiment: Big Spring, Texas, officials approved a 10-year agreement to reopen facilities as ICE detention centers. The development could indicate broader demand for detention capacity, but the report does not establish that GEO will operate the facilities or quantify any potential financial benefit to the company. Big Spring City Council Approves 10-Year Agreement to Reopen Facilities as ICE Detention Centers
- Neutral Sentiment: GEO was expected to report quarterly earnings Thursday. Investors may look for updates on contract wins, facility demand, margins and guidance, but the earnings report itself was not included in these articles. Geo Group Set to Post Earnings on Thursday
- Negative Sentiment: The 10th U.S. Circuit Court of Appeals rejected GEO’s request to halt a jury trial involving allegations related to forced labor. The case will proceed, increasing potential litigation costs, reputational pressure and the possibility of damages or other adverse remedies. 10th Circuit Rejects GEO Group Request to Halt Forced-Labor Jury Trial
Geo Group Stock Performance
Shares of NYSE GEO opened at $28.46 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.65 and a quick ratio of 1.65. The stock’s fifty day moving average price is $30.55 and its two-hundred day moving average price is $24.24. Geo Group has a one year low of $12.51 and a one year high of $33.17. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 1.53 and a beta of 0.77.
Geo Group (NYSE:GEO – Get Free Report) last posted its earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The company had revenue of $732.07 million during the quarter, compared to the consensus estimate of $721.43 million. Geo Group had a return on equity of 10.42% and a net margin of 10.31%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. On average, equities analysts forecast that Geo Group will post 1.33 EPS for the current year.
Geo Group Company Profile
The GEO Group, Inc (NYSE: GEO) is a provider of correctional, detention and community-based services. The company develops and operates secure facilities for government agencies, offering services that can include facility management, housing, transportation, food services, medical care, education and rehabilitation programs.
GEO also provides reentry and community-based services designed to support individuals transitioning from incarceration. Through its electronic monitoring and supervision offerings, the company assists government and law-enforcement agencies with alternatives to secure detention, including GPS monitoring, case management and other post-release support services.
Founded in 1984 as Wackenhut Corrections Corporation, the company adopted the name The GEO Group in 2003.
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