Wedbush Reaffirms “Outperform” Rating for The GEO Group (NYSE:GEO)

The GEO Group (NYSE:GEO)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued on Tuesday,RTT News reports. They presently have a $46.00 price target on the real estate investment trust’s stock. Wedbush’s target price would suggest a potential upside of 73.24% from the stock’s current price.

Several other research analysts have also recently weighed in on GEO. UBS Group set a $32.00 price target on shares of The GEO Group in a research report on Wednesday, March 5th. Noble Financial raised shares of The GEO Group from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Wednesday, March 5th.

The GEO Group Price Performance

GEO traded up $0.26 on Tuesday, hitting $26.55. 513,212 shares of the company’s stock were exchanged, compared to its average volume of 2,696,141. The GEO Group has a fifty-two week low of $11.75 and a fifty-two week high of $36.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $28.77 and a 200-day moving average price of $23.34. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 91.71, a P/E/G ratio of 2.11 and a beta of 0.91.

The GEO Group (NYSE:GEO) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. The business had revenue of $607.72 million for the quarter, compared to analyst estimates of $607.45 million. As a group, equities analysts anticipate that The GEO Group will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Street Corp raised its position in The GEO Group by 1.4% in the third quarter. State Street Corp now owns 4,919,298 shares of the real estate investment trust’s stock worth $63,213,000 after acquiring an additional 66,658 shares in the last quarter. Geode Capital Management LLC raised its position in The GEO Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,051,384 shares of the real estate investment trust’s stock worth $85,398,000 after acquiring an additional 35,281 shares in the last quarter. Point72 Asset Management L.P. raised its position in The GEO Group by 202.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,124,783 shares of the real estate investment trust’s stock worth $59,451,000 after acquiring an additional 1,422,676 shares in the last quarter. Discovery Capital Management LLC CT raised its position in The GEO Group by 375.2% in the fourth quarter. Discovery Capital Management LLC CT now owns 1,839,500 shares of the real estate investment trust’s stock worth $51,469,000 after acquiring an additional 1,452,400 shares in the last quarter. Finally, Philosophy Capital Management LLC increased its position in shares of The GEO Group by 17.1% in the third quarter. Philosophy Capital Management LLC now owns 1,644,005 shares of the real estate investment trust’s stock valued at $21,125,000 after buying an additional 240,251 shares in the last quarter. Hedge funds and other institutional investors 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.