The GEO Group, Inc. to Post Q2 2023 Earnings of $0.20 Per Share, Wedbush Forecasts (NYSE:GEO)

The GEO Group, Inc. (NYSE:GEO – Get Rating) – Investment analysts at Wedbush issued their Q2 2023 earnings per share estimates for The GEO Group in a note issued to investors on Thursday, May 18th. Wedbush analyst J. Mccanless anticipates that the real estate investment trust will post earnings per share of $0.20 for the quarter. The consensus estimate for The GEO Group’s current full-year earnings is $0.93 per share. Wedbush also issued estimates for The GEO Group’s Q3 2023 earnings at $0.24 EPS, Q4 2023 earnings at $0.26 EPS, FY2023 earnings at $0.92 EPS and FY2024 earnings at $1.20 EPS.

Separately, StockNews.com assumed coverage on The GEO Group in a research note on Thursday. They issued a “hold” rating for the company.

The GEO Group Stock Down 1.4 %

NYSE:GEO opened at $8.22 on Monday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $1.04 billion, a PE ratio of 7.47, a PEG ratio of 0.89 and a beta of 0.72. The GEO Group has a 52-week low of $5.97 and a 52-week high of $12.44. The stock has a 50-day simple moving average of $7.92 and a 200 day simple moving average of $9.57.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GEO. BlackRock Inc. grew its position in shares of The GEO Group by 9.1% in the first quarter. BlackRock Inc. now owns 19,928,438 shares of the real estate investment trust’s stock valued at $157,235,000 after purchasing an additional 1,657,703 shares in the last quarter. Pacer Advisors Inc. purchased a new position in The GEO Group during the 4th quarter valued at about $17,275,000. Millennium Management LLC grew its holdings in shares of The GEO Group by 45.3% during the 4th quarter. Millennium Management LLC now owns 4,340,088 shares of the real estate investment trust’s stock worth $47,524,000 after acquiring an additional 1,352,829 shares during the period. Renaissance Technologies LLC grew its holdings in shares of The GEO Group by 94.1% during the 3rd quarter. Renaissance Technologies LLC now owns 2,030,991 shares of the real estate investment trust’s stock worth $15,639,000 after acquiring an additional 984,461 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of The GEO Group by 87.8% during the 3rd quarter. Two Sigma Investments LP now owns 2,039,890 shares of the real estate investment trust’s stock worth $15,707,000 after acquiring an additional 953,567 shares during the period. 76.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The GEO Group

In related news, SVP James H. Black sold 12,837 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $8.36, for a total transaction of $107,317.32. Following the sale, the senior vice president now owns 155,965 shares in the company, valued at approximately $1,303,867.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

The GEO Group Company Profile

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The GEO Group, Inc engages in the design, financing, development, and support services for secure facilities, processing centers, and community re-entry facilities. It operates through the following segments: U.S. Secure, Electronic Monitoring and Supervision, Reentry, and International Services. The U.S.