The GEO Group (GEO) Board Announces Stock Buyback Program

The GEO Group (NYSE:GEO) announced that its Board of Directors has authorized a stock repurchase plan, which allows the company to buyback $200.00 million in outstanding shares on Wednesday, February 14th, EventVestor reports. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Shares of The GEO Group (NYSE GEO) traded down $0.08 during mid-day trading on Thursday, hitting $19.52. The stock had a trading volume of 282,825 shares, compared to its average volume of 998,540. The GEO Group has a one year low of $19.05 and a one year high of $34.32. The firm has a market cap of $2,513.67, a PE ratio of 14.30, a PEG ratio of 1.69 and a beta of 1.32. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.05.

The GEO Group (NYSE:GEO) last issued its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The GEO Group had a return on equity of 14.85% and a net margin of 7.05%. The company had revenue of $568.98 million for the quarter, compared to analysts’ expectations of $558.72 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. sell-side analysts predict that The GEO Group will post 1.94 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Friday, February 16th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.63%. The ex-dividend date is Thursday, February 15th. The GEO Group’s payout ratio is 139.26%.

Several brokerages have weighed in on GEO. Zacks Investment Research downgraded The GEO Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. ValuEngine downgraded The GEO Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. TheStreet raised The GEO Group from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $32.00 target price on shares of The GEO Group in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.47.

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About The GEO Group

The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.

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