Geo Group Inc’s shares reached a new 52-week high of $32.64 on Tuesday, extending gains that have pushed the stock up roughly 50% over the past year.
The company’s equity traded at $32.68 during intraday activity, following a second-quarter report that exceeded Wall Street expectations. Revenue rose 15% year-over-year to $732.1 million, surpassing the $721.4 million consensus estimate. Earnings per share came in at $0.37, above the forecasted $0.29, while adjusted EBITDA increased 20% to $142 million, outpacing Noble Capital’s estimate of $129.3 million.
Geo Group also raised its full-year outlook, citing stronger detention demand, new federal contracts, and a significant increase in U.S. Immigration and Customs Enforcement (ICE) populations as key drivers. The company’s market capitalization stands at $4.2 billion, with a trailing price-to-earnings ratio of 15.07.
Analysts at Noble Capital maintained an “Outperform” rating and raised their price target to $40 from $35. InvestingPro data assigned the stock a perfect Piotroski Score of 9, indicating robust financial health.
On August 18, Geo Group closed at $31.72, up 3.39%, with after-hours activity showing a marginal gain to $31.87. Year-to-date, the stock has surged 97%, while the six-month advance totals 139%.
