The GEO Group Inc (GEO) to Issue Quarterly Dividend of $0.48 on July 26th

The GEO Group Inc (NYSE:GEO) announced a quarterly dividend on Tuesday, July 9th, Zacks reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.48 per share by the real estate investment trust on Friday, July 26th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date is Thursday, July 18th.

The GEO Group has increased its dividend by an average of 4.0% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. The GEO Group has a payout ratio of 98.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect The GEO Group to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 69.1%.

Shares of NYSE:GEO opened at $18.85 on Tuesday. The company’s 50 day moving average is $21.65. The company has a market cap of $2.31 billion, a P/E ratio of 7.42, a PEG ratio of 1.19 and a beta of 1.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.49. The GEO Group has a 12-month low of $18.18 and a 12-month high of $27.36.

The GEO Group (NYSE:GEO) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.13). The GEO Group had a return on equity of 14.82% and a net margin of 6.34%. The business had revenue of $610.70 million during the quarter, compared to analysts’ expectations of $601.83 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts predict that The GEO Group will post 2.67 EPS for the current year.

GEO has been the topic of several recent research reports. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, TheStreet downgraded Viavi Solutions from a “b-” rating to a “c+” rating in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

In related news, Director Richard H. Glanton sold 2,400 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $21.39, for a total transaction of $51,336.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.70% of the company’s stock.

The GEO Group Company Profile

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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Dividend History for The GEO Group (NYSE:GEO)

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