Wedbush Predicts The GEO Group's FY2024 Earnings (NYSE:GEO)

The GEO Group, Inc. (NYSE:GEO - Free Report) - Analysts at Wedbush lowered their FY2024 EPS estimates for The GEO Group in a note issued to investors on Friday, November 8th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will post earnings per share of $0.82 for the year, down from their prior estimate of $0.88. Wedbush currently has a "Outperform" rating and a $30.00 target price on the stock. The consensus estimate for The GEO Group's current full-year earnings is $0.82 per share. Wedbush also issued estimates for The GEO Group's Q4 2024 earnings at $0.20 EPS, Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.28 EPS and FY2026 earnings at $1.15 EPS.

Other analysts also recently issued research reports about the stock. Noble Financial downgraded shares of The GEO Group from an "outperform" rating to a "market perform" rating in a research report on Monday. Northland Securities raised their target price on The GEO Group from $16.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday. Finally, StockNews.com cut The GEO Group from a "buy" rating to a "hold" rating in a research note on Wednesday, August 7th.

The GEO Group Stock Up 4.4 %

Shares of GEO stock traded up $1.12 during mid-day trading on Monday, reaching $26.49. 9,304,821 shares of the company were exchanged, compared to its average volume of 2,649,784. The GEO Group has a fifty-two week low of $9.14 and a fifty-two week high of $27.88. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.26 and a current ratio of 1.10. The company has a market capitalization of $3.70 billion, a P/E ratio of 91.33, a P/E/G ratio of 3.09 and a beta of 0.63. The business's 50 day simple moving average is $14.71 and its 200 day simple moving average is $14.31.

Institutional Investors Weigh In On The GEO Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC raised its stake in shares of The GEO Group by 472.1% during the third quarter. Sound Income Strategies LLC now owns 3,181 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 2,625 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of The GEO Group by 38.5% during the third quarter. GAMMA Investing LLC now owns 6,874 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 1,910 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of The GEO Group by 62.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,245 shares of the real estate investment trust's stock valued at $90,000 after purchasing an additional 2,393 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of The GEO Group during the third quarter valued at about $121,000. Finally, Innealta Capital LLC bought a new stake in shares of The GEO Group during the second quarter valued at about $140,000. 76.10% of the stock is currently owned by institutional investors.

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.