Geo Group Inc. (GEO) Rating Reiterated by Canaccord Genuity
Geo Group Inc. (NYSE:GEO)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a research note issued on Friday. They presently have a $28.00 target price on the real estate investment trust’s stock. Canaccord Genuity’s price objective points to a potential upside of 20.33% from the stock’s previous close.
A number of other brokerages also recently weighed in on GEO. Zacks Investment Research downgraded shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. TheStreet downgraded shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, SunTrust Banks Inc. dropped their target price on shares of Geo Group from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, September 1st.
Geo Group (NYSE:GEO) traded up 2.41% during trading on Friday, reaching $23.83. 301,531 shares of the company were exchanged. Geo Group has a 52-week low of $16.26 and a 52-week high of $35.14. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 12.82 and a beta of 0.97. The firm has a 50-day moving average of $23.86 and a 200-day moving average of $30.92.
Geo Group (NYSE:GEO) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Geo Group had a net margin of 6.80% and a return on equity of 14.20%. The firm earned $548.35 million during the quarter, compared to the consensus estimate of $547.23 million. During the same period last year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities analysts forecast that Geo Group will post $2.89 EPS for the current year.
In related news, SVP Ann M. Schlarb bought 1,500 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was bought at an average cost of $19.51 per share, with a total value of $29,265.00. Following the completion of the purchase, the senior vice president now owns 11,464 shares in the company, valued at approximately $223,662.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Menta Capital LLC acquired a new stake in Geo Group during the first quarter worth $285,000. Baker Ellis Asset Management LLC increased its stake in Geo Group by 1.1% in the first quarter. Baker Ellis Asset Management LLC now owns 10,105 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 110 shares during the period. BlackRock Japan Co. Ltd increased its stake in Geo Group by 0.4% in the first quarter. BlackRock Japan Co. Ltd now owns 3,907 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 14 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Geo Group by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,152,391 shares of the real estate investment trust’s stock worth $74,623,000 after buying an additional 16,809 shares during the period. Finally, BlackRock Fund Advisors increased its stake in Geo Group by 0.8% in the first quarter. BlackRock Fund Advisors now owns 5,094,059 shares of the real estate investment trust’s stock worth $176,611,000 after buying an additional 41,070 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.
Geo Group Company Profile
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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