The GEO Group (NYSE:GEO) Issues FY24 Earnings Guidance

The GEO Group (NYSE:GEO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.82 to $0.93 for the period.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wedbush reissued an outperform rating and set a $19.00 price objective on shares of The GEO Group in a report on Wednesday. StockNews.com downgraded The GEO Group from a buy rating to a hold rating in a research note on Wednesday.

The GEO Group Price Performance

GEO stock traded down $0.60 during midday trading on Wednesday, reaching $12.23. 1,862,324 shares of the company’s stock traded hands, compared to its average volume of 2,587,669. The company has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $13.68. The GEO Group has a 1-year low of $6.94 and a 1-year high of $18.05. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.32 and a beta of 0.67. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.31.

The GEO Group (NYSE:GEO) last posted its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The GEO Group had a return on equity of 8.88% and a net margin of 4.51%. The company had revenue of $605.67 million during the quarter, compared to the consensus estimate of $603.84 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, analysts anticipate that The GEO Group will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Shayn P. March sold 2,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.50, for a total value of $43,750.00. Following the sale, the executive vice president now directly owns 65,330 shares in the company, valued at $1,143,275. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Shayn P. March sold 2,500 shares of The GEO Group stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.50, for a total value of $43,750.00. Following the sale, the executive vice president now owns 65,330 shares of the company’s stock, valued at $1,143,275. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Michael Kernan sold 5,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $13.62, for a total value of $72,186.00. Following the transaction, the director now directly owns 23,936 shares in the company, valued at approximately $326,008.32. The disclosure for this sale can be found here. Corporate insiders own 5.30% 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.