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

The GEO Group (NYSE:GEO - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.800-0.840 for the period, compared to the consensus earnings per share 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.

The GEO Group Stock Performance

Shares of NYSE GEO traded up $2.92 during mid-day trading on Thursday, hitting $24.42. The stock had a trading volume of 14,692,129 shares, compared to its average volume of 2,592,566. 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 company has a 50 day moving average of $14.22 and a two-hundred day moving average of $14.17. The GEO Group has a twelve month low of $9.09 and a twelve month high of $24.58. The firm has a market cap of $3.41 billion, a PE ratio of 93.92, a PEG ratio of 1.56 and a beta of 0.63.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wedbush reaffirmed an "outperform" rating and issued a $17.00 price target on shares of The GEO Group in a report on Thursday, September 19th. StockNews.com lowered shares of The GEO Group from a "buy" rating to a "hold" rating in a report on Wednesday, August 7th.

Insider Buying and Selling at The GEO Group

In other The GEO Group news, Chairman George C. Zoley purchased 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought 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 owns 3,900,904 shares in the company, valued at $48,098,146.32. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.30% of the stock is owned by corporate insiders.

The GEO Group Company Profile

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.