Wedbush Forecasts Strong Price Appreciation for The GEO Group (NYSE:GEO) Stock

The GEO Group (NYSE:GEOGet Free Report) had its price objective increased by investment analysts at Wedbush from $25.00 to $30.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Wedbush’s price target suggests a potential upside of 18.30% from the company’s previous close. Wedbush also issued estimates for The GEO Group’s Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $0.82 EPS, Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.28 EPS and FY2026 earnings at $1.15 EPS.

Separately, StockNews.com lowered shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

Check Out Our Latest Stock Report on The GEO Group

The GEO Group Price Performance

Shares of The GEO Group stock traded up $0.93 during midday trading on Friday, hitting $25.36. 8,126,852 shares of the company were exchanged, compared to its average volume of 4,060,947. The firm has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $14.23. The GEO Group has a 52 week low of $9.09 and a 52 week high of $25.88. The firm has a market cap of $3.54 billion, a P/E ratio of 87.45, a PEG ratio of 3.09 and a beta of 0.63. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.10 and a quick ratio of 1.26.

The GEO Group (NYSE:GEOGet Free Report) 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 firm had revenue of $607.19 million during the quarter, compared to analyst estimates of $606.16 million. The GEO Group had a net margin of 2.00% and a return on equity of 9.20%. During the same quarter in the prior year, the firm posted $0.24 EPS. Research analysts forecast that The GEO Group will post 0.82 earnings per share for the current year.

Insider Transactions at The GEO Group

In other The GEO Group news, Chairman George C. Zoley purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $12.33 per share, with a total value of $1,233,000.00. Following the completion of the acquisition, the chairman now directly owns 3,900,904 shares of the company’s stock, valued at $48,098,146.32. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in shares of The GEO Group by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 35,525 shares of the real estate investment trust’s stock valued at $510,000 after buying an additional 862 shares during the period. Creative Planning boosted its position in shares of The GEO Group by 9.0% in the 3rd quarter. Creative Planning now owns 11,096 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 919 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in The GEO Group by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 100,735 shares of the real estate investment trust’s stock valued at $1,447,000 after purchasing an additional 1,098 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in The GEO Group by 3.1% in the first quarter. Commonwealth Equity Services LLC now owns 39,703 shares of the real estate investment trust’s stock valued at $561,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in The GEO Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 106,826 shares of the real estate investment trust’s stock worth $1,508,000 after buying an additional 1,402 shares during the last quarter. Institutional investors own 76.10% of the company’s stock.

The GEO Group Company Profile

(Get Free Report)

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.

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