The GEO Group (NYSE:GEO) declared that its board has approved a stock buyback plan, which allows the company to buyback $200.00 million in shares on Wednesday, February 14th, EventVestor reports. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
The GEO Group (NYSE:GEO) opened at $20.11 on Tuesday. The GEO Group has a 12-month low of $19.05 and a 12-month high of $34.32. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.27 and a current ratio of 1.57. The company has a market cap of $2,495.06, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32.
The GEO Group (NYSE:GEO) last released its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The business had revenue of $568.98 million during the quarter, compared to analyst estimates of $558.72 million. The GEO Group had a net margin of 6.46% and a return on equity of 13.95%. The GEO Group’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. equities research analysts forecast that The GEO Group will post 1.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Friday, February 16th will be issued a $0.47 dividend. The ex-dividend date is Thursday, February 15th. This represents a $1.88 annualized dividend and a dividend yield of 9.35%. The GEO Group’s dividend payout ratio (DPR) is presently 155.37%.
Several equities analysts have commented on GEO shares. Zacks Investment Research lowered shares of The GEO Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. ValuEngine lowered shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks reiterated a “buy” rating and set a $32.00 price objective on shares of The GEO Group in a research report on Wednesday, January 31st. Finally, TheStreet upgraded shares of The GEO Group from a “c+” rating to a “b-” rating in a research report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The GEO Group has an average rating of “Hold” and an average price target of $33.47.
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About The GEO Group
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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