Geo Group Inc (The) (GEO) Upgraded by Zacks Investment Research to Hold

Geo Group Inc (The) (NYSE:GEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, October 17th.

According to Zacks, “The GEO Group, Inc. is an equity real estate investment trust. It specializes in the design, development, financing and operation of correctional, detention and community reentry facilities. It has operations in the United States, Australia, South Africa, and the United Kingdom. The GEO Group, Inc. is headquartered in Boca Raton, Florida. “

Several other brokerages have also recently commented on GEO. BidaskClub cut Geo Group Inc (The) from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 price target on shares of Geo Group Inc (The) in a report on Monday, June 19th. JPMorgan Chase & Co. assumed coverage on Geo Group Inc (The) in a report on Friday, July 14th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, ValuEngine cut Geo Group Inc (The) from a “strong-buy” rating to a “buy” rating in a report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $33.83.

Geo Group Inc (NYSE GEO) traded up 0.59% during midday trading on Tuesday, hitting $25.62. 177,397 shares of the stock were exchanged. Geo Group Inc has a 12-month low of $15.27 and a 12-month high of $34.32. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 17.97 and a beta of 1.52. The firm has a 50 day moving average of $26.29 and a 200-day moving average of $29.04.

Geo Group Inc (The) (NYSE:GEO) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.15). The business had revenue of $570.10 million for the quarter, compared to the consensus estimate of $584.69 million. Geo Group Inc (The) had a return on equity of 15.84% and a net margin of 7.32%. Geo Group Inc (The)’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. On average, equities analysts expect that Geo Group Inc will post $1.27 earnings per share for the current year.

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In other news, Director Norman A. Carlson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $25.77, for a total transaction of $257,700.00. Following the sale, the director now owns 39,779 shares of the company’s stock, valued at $1,025,104.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anne N. Foreman sold 17,340 shares of Geo Group Inc (The) stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $26.67, for a total value of $462,457.80. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Geo Group Inc (The) by 59.9% in the 2nd quarter. Vanguard Group Inc. now owns 22,564,533 shares of the real estate investment trust’s stock valued at $667,233,000 after buying an additional 8,454,008 shares during the last quarter. BlackRock Inc. raised its position in Geo Group Inc (The) by 51.3% in the 2nd quarter. BlackRock Inc. now owns 13,705,096 shares of the real estate investment trust’s stock valued at $405,261,000 after buying an additional 4,649,017 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Geo Group Inc (The) by 82.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,360,526 shares of the real estate investment trust’s stock valued at $128,941,000 after buying an additional 1,975,389 shares during the last quarter. State Street Corp raised its position in Geo Group Inc (The) by 54.0% in the 2nd quarter. State Street Corp now owns 4,058,753 shares of the real estate investment trust’s stock valued at $120,023,000 after buying an additional 1,423,388 shares during the last quarter. Finally, Northern Trust Corp raised its position in Geo Group Inc (The) by 40.0% in the 2nd quarter. Northern Trust Corp now owns 3,453,382 shares of the real estate investment trust’s stock valued at $102,116,000 after buying an additional 986,702 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Geo Group Inc (The) Company Profile

The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.

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