FY2024 Earnings Estimate for The GEO Group Issued By Wedbush

The GEO Group, Inc. (NYSE:GEO) – Analysts at Wedbush dropped their FY2024 EPS estimates for The GEO Group in a research report issued to clients and investors on Friday, November 8th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings per share of $0.82 for the year, down from their prior estimate of $0.88. Wedbush has a “Outperform” rating and a $30.00 price objective on the stock. The consensus estimate for The GEO Group’s current full-year earnings is $0.82 per share. Wedbush also issued estimates for The GEO Group’s Q4 2024 earnings at $0.20 EPS, Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.28 EPS and FY2026 earnings at $1.15 EPS.

GEO has been the topic of several other research reports. StockNews.com lowered The GEO Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Northland Securities increased their price target on shares of The GEO Group from $16.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Noble Financial lowered shares of The GEO Group from an “outperform” rating to a “market perform” rating in a research note on Monday.

The GEO Group Stock Performance

GEO stock opened at $25.08 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.10 and a debt-to-equity ratio of 1.25. The GEO Group has a twelve month low of $9.14 and a twelve month high of $27.88. The business’s fifty day moving average is $14.94 and its 200-day moving average is $14.38. The company has a market cap of $3.50 billion, a P/E ratio of 86.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.63.

Institutional Investors Weigh In On The GEO Group

A number of hedge funds have recently modified their holdings of GEO. SG Americas Securities LLC acquired a new stake in shares of The GEO Group during the first quarter worth $510,000. Great Lakes Advisors LLC raised its stake in shares of The GEO Group by 1,803.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 312,508 shares of the real estate investment trust’s stock valued at $4,488,000 after purchasing an additional 296,090 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of The GEO Group by 352.4% in the second quarter. Renaissance Technologies LLC now owns 100,425 shares of the real estate investment trust’s stock valued at $1,442,000 after purchasing an additional 78,225 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of The GEO Group during the second quarter worth about $2,104,000. Finally, Victory Capital Management Inc. boosted its position in shares of The GEO Group by 112.2% during the second quarter. Victory Capital Management Inc. now owns 174,414 shares of the real estate investment trust’s stock worth $2,505,000 after buying an additional 92,210 shares during the period. Institutional investors and hedge funds own 76.10% 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.