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

The GEO Group (NYSE:GEO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.800-0.840 for the period, compared to the consensus estimate of 0.920. 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 Q4 2024 guidance to 0.190-0.220 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GEO. Wedbush reiterated an “outperform” rating and set a $17.00 price objective on shares of The GEO Group in a research note on Thursday, September 19th. StockNews.com downgraded shares of The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

The GEO Group Price Performance

The GEO Group stock opened at $21.50 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.26. The GEO Group has a 52 week low of $8.33 and a 52 week high of $21.54. The stock has a market capitalization of $3.00 billion, a P/E ratio of 82.69, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63. The stock has a fifty day moving average of $14.01 and a 200-day moving average of $14.09.

The GEO Group (NYSE:GEO) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $607.19 million for the quarter, compared to analyst estimates of $606.16 million. The GEO Group had a return on equity of 8.87% and a net margin of 1.92%. During the same period in the previous year, the firm posted $0.24 EPS. On average, sell-side analysts expect that The GEO Group will post 0.91 earnings per share for the current fiscal year.

Insider Activity at The GEO Group

In related news, Chairman George C. Zoley acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $12.33 per share, with a total value of $1,233,000.00. Following the purchase, the chairman now directly owns 3,900,904 shares in the company, valued at approximately $48,098,146.32. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.30% of the stock is currently owned by 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.