Geo Group (NYSE:GEO) Lowered to “Hold” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Geo Group (NYSE:GEO – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on the stock. Jones Trading lowered their price objective on shares of Geo Group from $50.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Geo Group in a report on Wednesday. Finally, Zacks Research cut shares of Geo Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Geo Group has a consensus rating of “Hold” and an average price target of $35.00.

Check Out Our Latest Report on GEO

Geo Group Stock Performance

Shares of GEO stock opened at $15.77 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $17.30 and its 200-day moving average price is $21.71. Geo Group has a one year low of $14.27 and a one year high of $36.46. The firm has a market cap of $2.19 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.87 and a beta of 0.67.

Geo Group (NYSE:GEO – Get Free Report) last released its quarterly earnings results on Wednesday, September 28th. The real estate investment trust reported $0.41 EPS for the quarter. Geo Group had a return on equity of 7.26% and a net margin of 3.69%.The business had revenue of $565.42 million during the quarter. Geo Group has set its FY22 guidance at $2.40-2.46 EPS. As a group, equities research analysts predict that Geo Group will post 0.83 EPS for the current year.

Geo Group declared that its board has approved a stock repurchase plan on Wednesday, August 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Turiya Advisors Asia Ltd purchased a new position in shares of Geo Group in the 3rd quarter valued at about $115,664,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Geo Group in the third quarter valued at approximately $88,625,000. Continental General Insurance Co. boosted its holdings in Geo Group by 919.8% in the second quarter. Continental General Insurance Co. now owns 3,904,474 shares of the real estate investment trust’s stock valued at $93,512,000 after purchasing an additional 3,521,589 shares in the last quarter. Wellington Management Group LLP increased its stake in Geo Group by 312.7% in the first quarter. Wellington Management Group LLP now owns 2,608,619 shares of the real estate investment trust’s stock valued at $76,198,000 after purchasing an additional 1,976,544 shares during the last quarter. Finally, Rubric Capital Management LP raised its holdings in Geo Group by 139.5% during the third quarter. Rubric Capital Management LP now owns 2,986,915 shares of the real estate investment trust’s stock worth $61,202,000 after purchasing an additional 1,739,522 shares in the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.

About Geo Group

(Get Free Report)

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.

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