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After Forming Descending Triangle Pattern, Is GEO Group, Inc. (GEO)’s Near-Term Analysis Positive?

December 8, 2017 - By Adrian Erickson

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 the shares of GEO in report on Friday, November 11 with “Buy” rating. The firm earned “Buy” rating on Friday, July 14 by J.P. Morgan. On Tuesday, April 11 the stock rating was maintained by Canaccord Genuity with “Buy”. The firm has “Buy” rating given on Monday, August 7 by Canaccord Genuity. The stock has “Buy” rating by Canaccord Genuity on Thursday, August 10. As per Monday, December 12, the company rating was maintained by Canaccord Genuity. The stock has “Buy” rating by Suntrust Robinson on Thursday, September 1. SunTrust maintained the stock with “Buy” rating in Wednesday, October 18 report. The stock has “Buy” rating by MLV on Tuesday, August 4. The stock has “Buy” rating by Canaccord Genuity on Friday, February 24.

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

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