The GEO Group (NYSE:GEO) Releases FY 2024 Earnings Guidance

The GEO Group (NYSE:GEO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.820-0.930 for the period, compared to the consensus estimate of 0.900. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. The GEO Group also updated its FY24 guidance to $0.82 to $0.93 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com lowered shares of The GEO Group from a buy rating to a hold rating in a research report on Wednesday. Wedbush reaffirmed an outperform rating and issued a $19.00 price objective on shares of The GEO Group in a research report on Wednesday.

The GEO Group Stock Performance

Shares of The GEO Group stock traded down $0.92 during midday trading on Wednesday, hitting $11.91. The company had a trading volume of 3,402,782 shares, compared to its average volume of 2,597,871. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.32 and a beta of 0.67. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $14.50 and a 200 day simple moving average of $13.68. The GEO Group has a 12-month low of $6.94 and a 12-month high of $18.05.

The GEO Group (NYSE:GEO) last announced its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The GEO Group had a net margin of 4.51% and a return on equity of 8.88%. The company had revenue of $605.67 million during the quarter, compared to analysts’ expectations of $603.84 million. During the same period in the previous year, the business earned $0.22 earnings per share. As a group, analysts predict that The GEO Group will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Michael Kernan sold 5,300 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $13.62, for a total value of $72,186.00. Following the transaction, the director now owns 23,936 shares in the company, valued at approximately $326,008.32. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Scott Michael Kernan sold 5,300 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $13.62, for a total value of $72,186.00. Following the transaction, the director now owns 23,936 shares in the company, valued at approximately $326,008.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Shayn P. March sold 2,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.50, for a total transaction of $43,750.00. Following the completion of the transaction, the executive vice president now owns 65,330 shares in the company, valued at approximately $1,143,275. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

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.