Geo Group Inc (The) (NYSE:GEO) shares were down 7.3% during mid-day trading on Monday following a dissappointing earnings announcement. The stock traded as low as $25.68 and last traded at $26.02, with a volume of 2,515,785 shares changing hands. The stock had previously closed at $28.06.
The real estate investment trust reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.15. The business had revenue of $570.10 million for the quarter, compared to analysts’ expectations of $584.69 million. Geo Group Inc (The) had a net margin of 7.32% and a return on equity of 15.84%. Geo Group Inc (The)’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.47%. The ex-dividend date was Wednesday, July 19th. Geo Group Inc (The)’s dividend payout ratio (DPR) is presently 131.16%.
Several equities research analysts have commented on GEO shares. Zacks Investment Research downgraded shares of Geo Group Inc (The) from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. ValuEngine upgraded Geo Group Inc (The) from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Canaccord Genuity reiterated a “buy” rating and set a $35.00 price target on shares of Geo Group Inc (The) in a research report on Monday, June 19th. BidaskClub cut Geo Group Inc (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, J P Morgan Chase & Co started coverage on Geo Group Inc (The) in a research report on Friday, July 14th. They set an “overweight” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $31.33.
In related news, Director Anne N. Foreman sold 17,340 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $26.67, for a total value of $462,457.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard H. Glanton sold 937 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $30.47, for a total transaction of $28,550.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,006 shares of company stock worth $1,586,888. Company insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GEO. Teachers Advisors LLC boosted its position in Geo Group Inc (The) by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 134,685 shares of the real estate investment trust’s stock valued at $4,839,000 after buying an additional 15,216 shares during the period. Nisa Investment Advisors LLC boosted its position in Geo Group Inc (The) by 14.4% in the first quarter. Nisa Investment Advisors LLC now owns 41,635 shares of the real estate investment trust’s stock valued at $1,931,000 after buying an additional 5,235 shares during the period. Retirement Systems of Alabama bought a new position in Geo Group Inc (The) during the first quarter valued at $4,708,000. James Investment Research Inc. bought a new position in Geo Group Inc (The) during the first quarter valued at $244,000. Finally, Nationwide Fund Advisors boosted its position in Geo Group Inc (The) by 149.3% in the first quarter. Nationwide Fund Advisors now owns 302,876 shares of the real estate investment trust’s stock valued at $14,044,000 after buying an additional 181,375 shares during the period. Institutional investors own 66.89% of the company’s stock.
The firm has a 50-day moving average of $28.71 and a 200-day moving average of $30.32. The company has a market cap of $3.07 billion, a P/E ratio of 17.64 and a beta of 1.54.
About Geo Group Inc (The)
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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