The GEO Group (NYSE:GEO) Updates Q3 2024 Earnings Guidance

The GEO Group (NYSE:GEO) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.210-0.250 for the period, compared to the consensus earnings per share estimate of 0.260. The company issued revenue guidance of $606.0 million-$616.0 million, compared to the consensus revenue estimate of $612.2 million. The GEO Group also updated its FY 2024 guidance to 0.820-0.930 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wedbush reaffirmed an outperform rating and issued a $19.00 price target on shares of The GEO Group in a research note on Wednesday. StockNews.com lowered The GEO Group from a buy rating to a hold rating in a research note on Wednesday.

The GEO Group Stock Down 7.2 %

NYSE GEO traded down $0.92 during trading hours on Wednesday, hitting $11.91. 3,402,782 shares of the company were exchanged, compared to its average volume of 2,597,871. The company has a 50 day moving average of $14.50 and a two-hundred day moving average of $13.68. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.31. The GEO Group has a 52-week low of $6.94 and a 52-week high of $18.05. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.32 and a beta of 0.67.

The GEO Group (NYSE:GEO) last issued its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The GEO Group had a return on equity of 8.88% and a net margin of 4.51%. The company had revenue of $605.67 million for the quarter, compared to analysts’ expectations of $603.84 million. During the same quarter last year, the company earned $0.22 EPS. Equities research analysts anticipate that The GEO Group will post 0.97 earnings per share for the current year.

Insider Activity

In other news, EVP Shayn P. March sold 2,500 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.50, for a total value of $43,750.00. Following the transaction, the executive vice president now owns 65,330 shares in the company, valued at approximately $1,143,275. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Scott Michael Kernan sold 5,300 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $13.62, for a total value of $72,186.00. Following the completion of the sale, the director now directly owns 23,936 shares of the company’s stock, valued at approximately $326,008.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Shayn P. March sold 2,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.50, for a total value of $43,750.00. Following the completion of the sale, the executive vice president now directly owns 65,330 shares of the company’s stock, valued at $1,143,275. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

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.