The GEO Group Inc (GEO) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 38 from a previous price target of $37 . Canaccord Genuity advised their investors in a research report released on Aug 3, 2016.
On the company’s financial health, The GEO Group Inc reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.71. The company had revenue of $548.35 million for the quarter, compared to analysts expectations of $546.98 million. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
The GEO Group Inc closed down -0.82 points or -2.35% at $34.02 with 4,95,696 shares getting traded on Tusday. Post opening the session at $34.63, the shares hit an intraday low of $33.86 and an intraday high of $35.05 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 11, 2016, Richard H Glanton (director) sold 1,440 shares at $33.12 per share price. According to the SEC, on May 5, 2016, George C Zoley (Chairman & CEO) sold 9,297 shares at $32.33 per share price. On May 4, 2016, J David Donahue (SVP-Corrections & Detention) sold 2,750 shares at $32.00 per share price, according to the Form-4 filing with the securities and exchange commission.
The GEO Group Inc. is a real estate investment trust (REIT) which specializes 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 and the United Kingdom. The Company operates in four segments: U.S. Corrections & Detention segment which encompasses its United States-based privatized corrections and detention business; GEO Care segment encompasses its United States-based privatized corrections and detention business youth services business and electronic monitoring and supervision service; International Services segment which consists of its privatized corrections and detention operations in South Africa Australia and the United Kingdom and Facility Construction & Design segment which contracts with various states local and federal agencies as well as international agencies for the design and construction of facilities.