Q2 2024 Earnings Estimate for The GEO Group, Inc. Issued By Noble Financial (NYSE:GEO)

The GEO Group, Inc. (NYSE:GEO) – Noble Financial boosted their Q2 2024 EPS estimates for shares of The GEO Group in a report released on Wednesday, May 8th. Noble Financial analyst J. Gomes now expects that the real estate investment trust will post earnings of $0.26 per share for the quarter, up from their prior forecast of $0.25. The consensus estimate for The GEO Group’s current full-year earnings is $1.01 per share. Noble Financial also issued estimates for The GEO Group’s Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.98 EPS and FY2025 earnings at $1.13 EPS.

The GEO Group (NYSE:GEO) last released its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The GEO Group had a return on equity of 9.43% and a net margin of 4.72%. The company had revenue of $605.67 million for the quarter, compared to the consensus estimate of $603.84 million. During the same quarter last year, the firm posted $0.22 earnings per share.

Separately, Wedbush dropped their price target on shares of The GEO Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday.

The GEO Group Stock Down 0.1 %

GEO stock opened at $13.62 on Thursday. The GEO Group has a 52 week low of $6.94 and a 52 week high of $16.31. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 1.45 and a beta of 0.59. The firm’s 50-day moving average is $14.03 and its two-hundred day moving average is $11.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34.

Institutional Trading of The GEO Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB lifted its holdings in shares of The GEO Group by 4.3% in the fourth quarter. Handelsbanken Fonder AB now owns 21,900 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 900 shares in the last quarter. Commonwealth Equity Services LLC raised its position in The GEO Group by 3.1% during the first quarter. Commonwealth Equity Services LLC now owns 39,703 shares of the real estate investment trust’s stock valued at $561,000 after buying an additional 1,197 shares during the period. Texas Permanent School Fund Corp lifted its stake in The GEO Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 106,826 shares of the real estate investment trust’s stock worth $1,508,000 after acquiring an additional 1,402 shares in the last quarter. ProShare Advisors LLC boosted its position in The GEO Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 24,326 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 1,669 shares during the period. Finally, Avantax Advisory Services Inc. grew its stake in The GEO Group by 19.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 12,576 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 2,010 shares in the last quarter. 76.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Shayn P. March sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $15.00, for a total value of $37,500.00. Following the sale, the chief financial officer now directly owns 67,830 shares in the company, valued at approximately $1,017,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.

The 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.