Stock Monitor: Community Healthcare Trust Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 22, 2018 / If you want access to our free earnings report on The GEO Group, Inc. (NYSE: GEO) ("GEO"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GEO. GEO Group reported its first-quarter fiscal 2018 operating and financial results on April 26, 2018. The private prison operator, based in Boca Raton, Florida, saw revenue growth of 3% on a y-o-y basis. Additionally, the Company provided guidance for the upcoming quarter and fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Community Healthcare Trust Incorporated (NYSE: CHCT), which also belongs to the Financial sector as the Company GEO Group. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, GEO Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the first quarter 2018, GEO recorded revenues of $564.9 million, up 3% as compared to $550.6 million in Q1 2017. The Company's reported numbers topped analysts' estimates of $559.1 million.
During Q1 2018, GEO's income before income taxes and equity in earnings of affiliates were $37.7 million compared to $41.3 million in Q1 2017.
GEO reported net income attributable to the Company of $35.0 million, or $0.29 per diluted share, in Q1 2018 compared to $40.4 million, or $0.35 per diluted share, for Q1 2017. The Company's reported quarter results reflected a y-o-y increase of approximately $3.7 million in net interest expense attributable to higher interest rates as well as higher overall outstanding debt balances; revised pricing terms under the new 10-year contracts for the Company's Big Spring Texas facilities, the issuance of 10.4 million shares of common stock on a post-split basis in March 2017, offset by the repurchase of over 1.8 million shares in Q1 2018.
For Q1 2018, GEO reported Normalized Funds from Operations (FFO) of $52.6 million, or $0.43 per diluted share, compared to $58.1 million, or $0.51 per diluted share, in Q1 2017.
GEO reported Q1 2018 adjusted FFO of $69.8 million, or $0.57 per diluted share, compared to $74.0 million, or $0.65 per diluted share, in Q1 2017. The Company's earnings beat Wall Street's expectations of $0.43 per share.
Stock Repurchase Program
During the first quarter 2018, GEO repurchased over 1.8 million shares of its common stock for approximately $40.0 million under the $200.0 million stock repurchase program approved by GEO's Board of Directors.
GEO expects full-year 2018 total revenue to be approximately $2.3 billion. The Company is forecasting net income attributable to GEO to be in a range of $1.27 to $1.35 per diluted share. GEO expects FY18 AFFO to be in the band of $2.45 to $2.53 per diluted share.
For the second quarter 2018, GEO is forecasting total revenues to be in a range of $571 million to $576 million. The Company is expecting net income attributable to GEO to be in a range of $0.30 to $0.32 per diluted share. GEO is projecting AFFO to be in the range of $0.59 to $0.61 per diluted share.
Stock Performance Snapshot
May 21, 2018 - At Monday's closing bell, GEO Group's stock advanced 1.55%, ending the trading session at $24.23.
Volume traded for the day: 636.42 thousand shares.
Stock performance in the last month – up 13.07%; previous three-month period – up 16.60%; and year-to-date – up 2.67%
After yesterday's close, GEO Group's market cap was at $2.94 billion.
Price to Earnings (P/E) ratio was at 19.73.
The stock has a dividend yield of 7.76%.
The stock is part of the Financial sector, categorized under the REIT - Healthcare Facilities industry. This sector was up 0.7% at the end of the session.
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