The GEO Group Inc Declares Quarterly Dividend of $0.48 (NYSE:GEO)

The GEO Group Inc (NYSE:GEO) announced a quarterly dividend on Tuesday, July 9th, Zacks reports. Investors 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 annualized dividend and a dividend yield of 10.29%. The ex-dividend date of this dividend is Thursday, July 18th.

The GEO Group has increased its dividend by an average of 4.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. The GEO Group has a payout ratio of 98.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 GEO opened at $18.66 on Wednesday. The company has a market capitalization of $2.28 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 1.18 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 $27.06. The business’s 50-day simple moving average is $21.59.

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

In related news, Director Richard H. Glanton sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $21.39, for a total value of $51,336.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.70% of the company’s stock.

Several analysts have recently weighed in on the stock. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. TheStreet lowered shares of Viavi Solutions from a “b-” rating to a “c+” rating in a report on Monday, June 3rd. Finally, Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. The GEO Group presently has a consensus rating of “Hold” and an average target price of $25.00.

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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Dividend History for The GEO Group (NYSE:GEO)

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