GEO Group: Golden Opportunity Following The 32% Selloff
GEO Group is set to release their Q2 2024 earnings results on August 7, 2024, pre-market. 32% selloff since mid-July, anticipating a net loss in Q2 in the range of $27 million to $30 million. New 5-year, $25 million annual contract with CSI Aviation, and a potential 5-year contract extension for their Californian ICE facility.
Cerrado Gold Announces Q2 Gold Production Results for Its Minera Don Nicolas Mine in Argentina
Q2 Production of 16,255 Gold Equivalent Ounces ("GEO") vs 11,204 GEO in Q1, 2024. High-Grade ore from Calandrias Norte and continued ramp-up at Heap leach operations are supporting strong quarterly production.
Geo Group (GEO) Moves 9.4% Higher: Will This Strength Last?
Geo Group (GEO) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Amalgamated Bank Has $479,000 Stock Position in The GEO Group, Inc. (NYSE:GEO)
Amalgamated Bank trimmed its holdings in shares of The GEO Group, Inc. (NYSE:GEO – Free Report) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,257 shares of the real estate investment trust’s stock after selling 4,050 shares during the period. Amalgamated Bank’s holdings in The GEO Group were worth $479,000 as of its most recent filing with the SEC. Other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in The GEO Group by 11.0% during the fourth quarter. Russell Investments Group Ltd. now owns 110,747 shares of the real estate investment trust’s stock worth $1,201,000 after acquiring an additional 10,978 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of The GEO Group in the 4th quarter valued at about $48,000. Illinois Municipal Retirement Fund increased its position in The GEO Group by 7.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 76,146 shares of the real estate investment trust’s stock valued at $825,000 after buying an additional 5,581 shares in the last quarter. Handelsbanken Fonder AB raised its stake in The GEO Group by 4.3% during the 4th quarter. Handelsbanken Fonder AB now owns 21,900 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 900 shares during the period. Finally, River Road Asset Management LLC bought a new position in The GEO Group in the fourth quarter worth approximately $32,230,000. 76.10% of the stock is currently owned by institutional investors. Analyst Upgrades and Downgrades Separately, Wedbush decreased their price objective on The GEO Group from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Get Our Latest Analysis on GEO The GEO Group Stock Up 1.4 % The GEO Group stock opened at $13.42 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.31. The GEO Group, Inc. has a 1-year low of $6.94 and a 1-year high of $16.31. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.33 and a beta of 0.59. The firm’s fifty day moving average price is $14.21 and its two-hundred day moving average price is $12.02. The GEO Group (NYSE:GEO – Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The GEO Group had a return on equity of 8.88% and a net margin of 4.51%. The company had revenue of $605.67 million for the quarter, compared to the consensus estimate of $603.84 million. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, equities research analysts predict that The GEO Group, Inc. will post 1.01 earnings per share for the current fiscal year. Insider Buying and Selling at The GEO Group In other news, CFO Shayn P. March sold 2,500 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $15.00, for a total value of $37,500.00. Following the completion of the sale, the chief financial officer now owns 67,830 shares in the company, valued at approximately $1,017,450. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.30% of the company’s stock. The GEO Group Profile (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.
GEO Group: Debt Refinancing Presents Value And Income Opportunity
GEO Group eliminated its dividend and switched from a REIT to a C-Corp after heavy debt threatened profitability. GEO Group's first quarter earnings showed a drop in operating income, but strong free cash flow allowed for debt reduction. The company's debt refinancing provides the flexibility to consider returning capital to shareholders through share buybacks or dividends.
EXCLUSIVE: Andrew Left Shorted GameStop — Here Are His 3 Long Stock Ideas - GEO Group (NYSE:GEO), Edgio (NASDAQ:EGIO)
Best known as a short seller and the founder of Citron Research, Andrew Left went short on GameStop Corporation GME in 2021 and again in May 2024.
