|Bid||24.00 x 1800|
|Ask||0.00 x 2900|
|Day's Range||24.60 - 25.02|
|52 Week Range||19.05 - 28.06|
|PE Ratio (TTM)||20.49|
|Forward Dividend & Yield||1.88 (7.32%)|
|1y Target Est||N/A|
A labor union representing American teachers on Friday urged pension funds to cut their exposure to investment firms that have funneled millions of dollars into private prisons, saying the companies are getting rich on the U.S. government's practice of separating migrant families. The American Federation of Teachers, which influences over $1 trillion in public-teacher pension plans, published a report identifying more than two dozen firms that bet on jail operators CoreCivic Inc and GEO Group Inc and defense contractor General Dynamics Corp, which has contracts with migrant shelters. It sent the report to pensions around the country, warning such investments could be hazardous.
Private-prison companies keep winning, and they have U.S. taxpayers to thank. Not only are Americans footing the bill for detaining thousands of border-crossers, the Internal Revenue Service allows CoreCivic Inc. and GEO Group Inc. to legally avoid paying taxes on their gains. A dollar placed on CoreCivic the day before President Donald Trump’s 2016 election, with dividends reinvested, would be worth $2.02 today.
A group of immigrant fathers, recently reunified with their sons and detained in Texas, have gone on a hunger strike to demand their release, an immigrant rights group representing them said on Thursday. The U.S. Immigration and Customs Enforcement (ICE) agency said there had not been a hunger strike by residents of the Karnes County Residential Center, about 51 miles (82 km) southeast of San Antonio. "On Aug. 2, a small group of fathers and their children (fewer than 50 total) staged a brief sit-in and expressed their concerns about their immigration cases," ICE said in a statement.
Geo Group (GEO) delivered earnings and revenue surprises of 25.00% and 1.71%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
BOCA RATON, Fla. (AP) _ Geo Group Inc. (GEO) on Thursday reported a key measure of profitability in its second quarter. The Boca Raton, Florida-based real estate investment trust said it had funds from operations of $72.2 million, or 60 cents per share, in the period. The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 48 cents per share.
The GEO Group (NYSE: GEO ) releases its next round of earnings this Thursday. Here's Benzinga's essential guide to GEO Group's Q2 earnings report. Earnings and Revenue Analysts expect The GEO Group earnings ...
The US leveraged loan market appeared to shrug off protests at the center of a national immigration debate that saw illegal immigrants separated from their children as advocates take aim at banks financing companies that run detention centers. Advocacy groups in New York gathered Wednesday near JP Morgan Chief Executive Officer Jamie Dimon’s apartment, calling on the bank to stop lending to private prison and immigration detention companies, according to the Center for Popular Democracy, one of the protest organizers.
Two private prison companies are facing legal pressure over work programs at detention centers that pay migrants $1 a day to perform tasks such as cleaning or working in the centers’ kitchens. Recent lawsuits have accused Geo Group Inc. and Co Inc. of violating federal laws prohibiting forced labor, state minimum-wage laws or unjust-enrichment laws. The companies run detention centers for migrants caught crossing the southern border, detained asking for asylum at an official entry place or accused of living in the U.S. illegally.
The Trump administration’s new push for more federal detention facilities for immigrants awaiting asylum hearings or deportation has brightened the outlook for the country’s two largest private prison operators. Tennessee-based CoreCivic Inc. and Florida-based Geo Group had already been helped by higher federal spending on Immigration and Customs Enforcement. Now, the Trump administration is seeking $2.8 billion in the 2019 budget year to increase the number of beds in immigration detention centers to 52,000—49,500 adult and 2,500 family beds—from about 40,000 now, a spokeswoman said.
The Trump administration's much-publicized increase in immigration enforcement is also increasing the bottom line for for-profit prisons and other companies from the private sector, with many signing multimillion-dollar contracts with the Department of Homeland Security. "A lot of people imagine immigration detention as being a government-only function, but there are private contractors throughout the entire immigration enforcement and detention system," said Jeremy Mohler, communications director of the research and policy group In the Public Interest. Running a massive nationwide government operation requires organization and technology.
South Florida’s highest-paid CEOs are still earning most of their pay through stock awards. As companies’ compensation committees continue to push for performance-based pay over high salaries, stock awards remain the go-to reward for many South Florida executives. Stock awards accounted for more than 51 percent of overall compensation among the 25 highest-paid CEOs in the region in 2017.
The biggest private prison operators, which have poured money into Republican coffers, stand to make a windfall from President Donald Trump’s “zero tolerance” policy on illegal immigration that has pushed thousands of undocumented immigrants into detention. The Department of Homeland Security is considering adding space for 15,000 additional people in family detention centers, about five times current capacity, even as the number of border crossings declines. GEO Group Inc. and CoreCivic Inc., which each run a facility that holds immigrant families in Texas, have made more than $2.5 million in combined political donations since 2015.
The GEO Group Inc (NYSE:GEO), a reits company based in United States, saw a significant share price rise of over 20% in the past couple of months on the NYSE.Read More...
The Trump administration’s “zero tolerance” policy at the border generated weeks of outrage, but for some federal contractors it’s also generating profits, analysts say. Under Trump’s policy, launched in April, anyone who crosses the border without authorization is subject to criminal prosecution, even if they are seeking asylum.
The Trump administration's recent immigration crackdown has clearly been a boon for the private companies that own, manage and supply federal detention centers. A recent report from the Government Accountability Office found that the Immigration and Customs Enforcement division of the Department of Homeland Security had ended up spending more than originally budgeted to house detainees. In response to the GAO report in April, ICE officials said they had recently improved the process of estimating costs for the 2020 budget cycle, and they promised to "work to more effectively" to document the agency's cost reviews.
Sustainable investors, playing the long game, are engaging with companies to strengthen human-rights practices even after the Trump administration decided to rescind its executive order to separate migrant families at the border, deciding to keep families together in custody. Sister Nora Nash, who oversees retirement funds for the Sisters of St. Francis of Philadelphia, told Barron’s that she is working with JPMorgan Chase (JPM) and Wells Fargo (WFC), “financial institutions who support legislation on human rights, and asking them to do due diligence on financing prisons.” Earlier this week, Nash says, she had written half a dozen companies, including the two banks, “to ask their CEOs to address the issue at the border.” After Nash sent the letters, she says, the Business Roundtable—a group of CEOs of major corporations chaired by JPMorgan Chase CEO Jamie Dimon—issued a statement urging the administration “to end immediately the policy of separating accompanied minors from their parents.
The real estate investment trust, based in Boca Raton, Florida, said it had funds from operations of $69.8 million, or 57 cents per share, in the period. The average estimate of three analysts surveyed ...
This could indicate that investors who seek to profit from falling equity prices are not currently targeting GEO. Over the last one-month, outflows of investor capital in ETFs holding GEO totaled $1.84 billion.