Canaccord Genuity reaffirmed their buy rating on shares of The GEO Group Inc (NYSE:GEO) in a research report released on Friday. The firm currently has a $50.00 target price on the real estate investment trust’s stock.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded The GEO Group from a strong-buy rating to a hold rating in a research note on Tuesday, February 28th. Deutsche Bank AG assumed coverage on The GEO Group in a research note on Wednesday, February 22nd. They set a hold rating and a $47.00 target price for the company. TheStreet upgraded The GEO Group from a hold rating to a buy rating in a research note on Tuesday, November 29th. Finally, Wells Fargo & Co restated a hold rating on shares of The GEO Group in a research note on Tuesday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $39.00.
Shares of The GEO Group (NYSE:GEO) traded up 1.07% on Friday, reaching $45.31. The company had a trading volume of 285,148 shares. The company’s 50-day moving average is $44.55 and its 200 day moving average is $33.13. The firm has a market capitalization of $3.36 billion, a PE ratio of 22.66 and a beta of 1.22. The GEO Group has a 12 month low of $16.26 and a 12 month high of $49.42.
The GEO Group (NYSE:GEO) last released its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.07. The company earned $566.60 million during the quarter, compared to the consensus estimate of $556.58 million. The GEO Group had a return on equity of 14.70% and a net margin of 6.78%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. Equities analysts forecast that The GEO Group will post $2.08 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Friday, February 17th were paid a dividend of $0.70 per share. This is an increase from The GEO Group’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $2.80 annualized dividend and a yield of 6.25%. The GEO Group’s dividend payout ratio is presently 134.72%.
In related news, SVP J David Donahue sold 3,013 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $46.51, for a total transaction of $140,134.63. Following the completion of the sale, the senior vice president now owns 12,276 shares in the company, valued at approximately $570,956.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Norman A. Carlson sold 5,000 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $48.38, for a total value of $241,900.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Tyers Asset Management LLC purchased a new stake in shares of The GEO Group during the fourth quarter worth approximately $104,000. Flinton Capital Management LLC purchased a new stake in shares of The GEO Group during the fourth quarter worth approximately $133,000. MSI Financial Services Inc increased its stake in shares of The GEO Group by 15.8% in the third quarter. MSI Financial Services Inc now owns 6,649 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 908 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of The GEO Group by 12.3% in the second quarter. Public Employees Retirement System of Ohio now owns 5,168 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 567 shares in the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in shares of The GEO Group during the third quarter worth approximately $196,000. Institutional investors own 88.16% of the company’s stock.
About The GEO Group
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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