Does GEO Group, Inc. (GEO) Have Any Gas After Forming This Descending Triangle?

December 8, 2017 - By Adrian Mccoy

The stock of GEO Group, Inc. (GEO) formed a descending triangle with $25.96 target or 6.00 % above today’s $24.49 share price. The 5 months triangle pattern indicates low risk for the $2.99B company. If the $25.96 price target is reached, the company will be worth $179.64 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.65% or $0.16 during the last trading session, reaching $24.49. About 735,423 shares traded or 13.89% up from the average. GEO Group, Inc. (NYSE:GEO) has risen 49.90% since December 8, 2016 and is uptrending. It has outperformed by 33.20% the S&P500.

Analysts await GEO Group, Inc. (NYSE:GEO) to report earnings on February, 28. They expect $0.50 earnings per share, down 27.54 % or $0.19 from last year’s $0.69 per share. GEO’s profit will be $61.13 million for 12.25 P/E if the $0.50 EPS becomes a reality. After $0.63 actual earnings per share reported by GEO Group, Inc. for the previous quarter, Wall Street now forecasts -20.63 % negative EPS growth.

GEO Group, Inc. (NYSE:GEO) Ratings Coverage

Among 5 analysts covering The GEO Group (NYSE:GEO), 5 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. The GEO Group had 13 analyst reports since August 4, 2015 according to SRatingsIntel. Canaccord Genuity maintained GEO Group, Inc. (NYSE:GEO) rating on Monday, August 7. Canaccord Genuity has “Buy” rating and $3500 target. Canaccord Genuity maintained it with “Buy” rating and $35 target in Friday, November 11 report. Canaccord Genuity maintained the shares of GEO in report on Monday, December 12 with “Buy” rating. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, August 10 report. The firm has “Buy” rating given on Friday, July 14 by J.P. Morgan. MLV maintained GEO Group, Inc. (NYSE:GEO) rating on Tuesday, August 4. MLV has “Buy” rating and $43 target. The stock of GEO Group, Inc. (NYSE:GEO) earned “Buy” rating by Suntrust Robinson on Thursday, September 1. The firm has “Buy” rating by SunTrust given on Wednesday, October 18. The firm earned “Buy” rating on Tuesday, April 11 by Canaccord Genuity. Canaccord Genuity maintained GEO Group, Inc. (NYSE:GEO) rating on Wednesday, August 24. Canaccord Genuity has “Buy” rating and $28 target.

More news for GEO Group, Inc. (NYSE:GEO) were recently published by: Prnewswire.com, which released: “Stock Review for REIT’s Investors — HCP Inc., Medical Properties Trust …” on December 05, 2017. Businesswire.com‘s article titled: “The GEO Group Announces Commencement of Operations at Ravenhall Correctional …” and published on November 13, 2017 is yet another important article.

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