$601.83 Million in Sales Expected for The GEO Group Inc (GEO) This Quarter

Wall Street brokerages expect The GEO Group Inc (NYSE:GEO) to announce sales of $601.83 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for The GEO Group’s earnings, with the highest sales estimate coming in at $602.47 million and the lowest estimate coming in at $601.19 million. The GEO Group reported sales of $564.92 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The firm is expected to report its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that The GEO Group will report full-year sales of $2.42 billion for the current fiscal year, with estimates ranging from $2.41 billion to $2.43 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.45 billion, with estimates ranging from $2.44 billion to $2.46 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow The GEO Group.

The GEO Group (NYSE:GEO) last released its quarterly earnings results on Thursday, February 14th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.24). The GEO Group had a net margin of 6.22% and a return on equity of 13.94%. The firm had revenue of $599.43 million for the quarter, compared to analyst estimates of $588.94 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of The GEO Group from a “buy” rating to a “sell” rating in a research note on Monday, February 18th. JPMorgan Chase & Co. cut shares of The GEO Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $27.00 to $26.00 in a research note on Friday, February 15th. ValuEngine cut shares of The GEO Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Co restated a “hold” rating on shares of The GEO Group in a research note on Monday, March 11th.

The GEO Group stock traded up $0.47 during mid-day trading on Friday, reaching $19.20. The company had a trading volume of 1,418,160 shares, compared to its average volume of 668,368. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.85 and a quick ratio of 0.85. The GEO Group has a 52 week low of $18.18 and a 52 week high of $28.06. The company has a market cap of $2.26 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

Hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of The GEO Group by 1,851.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 949,816 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 901,137 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of The GEO Group in the 4th quarter valued at $79,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of The GEO Group by 11.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,455 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 882 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of The GEO Group during the 4th quarter worth about $188,000. Finally, Sun Life Financial INC increased its position in shares of The GEO Group by 6.5% during the 4th quarter. Sun Life Financial INC now owns 10,357 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 633 shares in the last quarter. Institutional investors own 88.83% of the company’s stock.

About The GEO Group

The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.

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