Noble Financial analyst Joe Gomes maintained a Buy rating on Geo Group (GEO – Research Report) today and set a price target of $15.00. The company’s shares closed last Monday at $7.37, close to its 52-week low of $6.70.
According to TipRanks.com, Gomes is a 5-star analyst with an average return of 35.6% and a 61.5% success rate. Gomes covers the Services sector, focusing on stocks such as Information Services Group, Kelly Services, and DLH Holdings.
Currently, the analyst consensus on Geo Group is a Moderate Buy with an average price target of $15.00.
Based on Geo Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $578 million and net profit of $11.91 million. In comparison, last year the company earned revenue of $622 million and had a net profit of $38.05 million.
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The GEO Group, Inc. is a real estate investment trust, which specializes in the ownership, lease, and management of correctional, detention, and re-entry facilities. It operates through the following segments: U.S. Corrections and Detention; GEO Care; International Services; and Facility Construction and Design. The U.S. Corrections and Detention segment encompasses United States based public-private partnership corrections and detention business. The GEO Care segment consists of community-based services business, youth services business, and electronic monitoring and supervision service. The International Services segment includes detention operations in South Africa, Australia, and the United Kingdom. The Facility Construction and Design segment contracts with states, local, federal agencies, and international agencies for the design and construction of buildings. The company was founded by George C. Zoley in 1984 and is headquartered in Boca Raton, FL.