Geo Group Inc. (GEO) Bond Prices Rise 7.3%
An issue of Geo Group Inc. (NYSE:GEO) bonds rose 7.3% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 6% coupon and will mature on April 15, 2026. The bonds in the issue are now trading at $95.75 and were trading at $87.75 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
A number of equities research analysts have issued reports on GEO shares. Zacks Investment Research downgraded Geo Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 price objective on shares of Geo Group in a research report on Thursday, August 11th. SunTrust Banks Inc. lowered their price objective on Geo Group from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, September 1st. Finally, TheStreet cut Geo Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th.
Geo Group Inc. (NYSE:GEO) opened at 30.60 on Friday. The stock has a market capitalization of $2.27 billion, a PE ratio of 15.86 and a beta of 1.03. Geo Group Inc. has a 52-week low of $16.26 and a 52-week high of $35.14. The stock’s 50 day moving average price is $24.24 and its 200-day moving average price is $28.98.
Geo Group (NYSE:GEO) last released its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.16. Geo Group had a net margin of 6.78% and a return on equity of 14.70%. The business earned $554.40 million during the quarter, compared to analysts’ expectations of $567.16 million. During the same quarter last year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts expect that Geo Group Inc. will post $2.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, October 31st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date was Thursday, October 27th. Geo Group’s dividend payout ratio (DPR) is presently 134.72%.
In other Geo Group news, SVP Ann M. Schlarb purchased 1,500 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was bought at an average cost of $19.51 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Independent Portfolio Consultants Inc. raised its position in shares of Geo Group by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,570 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 15 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Geo Group during the second quarter worth $157,000. MSI Financial Services Inc raised its position in shares of 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 raised its position in shares of 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, Mizuho Asset Management Co. Ltd. purchased a new position in shares of Geo Group during the second quarter worth $187,000. 87.77% of the stock is currently 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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