FY2024 Earnings Forecast for The GEO Group Issued By Wedbush

The GEO Group, Inc. (NYSE:GEO) – Equities research analysts at Wedbush dropped their FY2024 EPS estimates for shares of The GEO Group in a report issued on Friday, November 8th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings per share of $0.82 for the year, down from their prior forecast 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.

Several other analysts have also issued reports on the company. Northland Securities upped their price objective on The GEO Group from $16.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com downgraded The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

The GEO Group Stock Up 3.8 %

Shares of GEO stock opened at $25.36 on Monday. The GEO Group has a 52-week low of $9.09 and a 52-week high of $25.88. 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 stock has a market cap of $3.54 billion, a price-to-earnings ratio of 87.45, a PEG ratio of 3.09 and a beta of 0.63. The firm’s 50-day moving average is $14.45 and its 200-day moving average is $14.23.

Hedge Funds Weigh In On The GEO Group

Several institutional investors and hedge funds have recently made changes to their positions in GEO. Sound Income Strategies LLC grew its stake in shares of The GEO Group by 472.1% in 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 acquiring an additional 2,625 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 worth $88,000 after purchasing an additional 1,910 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of The GEO Group by 62.1% in 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 buying an additional 2,393 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of The GEO Group in the third quarter valued at approximately $121,000. Finally, Innealta Capital LLC acquired a new stake in The GEO Group during the second quarter worth approximately $140,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

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.