Last $43.41 USD
Change Today +0.355 / 0.82%
Volume 300.3K
As of 1:34 PM 01/28/15 All times are local (Market data is delayed by at least 15 minutes).

geo group inc/the (GEO) Snapshot

Open
$43.32
Previous Close
$43.05
Day High
$43.53
Day Low
$43.05
52 Week High
01/28/15 - $43.53
52 Week Low
02/10/14 - $30.85
Market Cap
3.2B
Average Volume 10 Days
512.7K
EPS TTM
$1.86
Shares Outstanding
74.1M
EX-Date
11/13/14
P/E TM
23.3x
Dividend
$2.48
Dividend Yield
5.37%
Current Stock Chart for GEO GROUP INC/THE (GEO)

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geo group inc/the (GEO) Details

The GEO Group, Inc. provides government-outsourced services specializing in the management of correctional, detention, and re-entry facilities, and the provision of community based services and youth services in the United States, Australia, South Africa, the United Kingdom, and Canada. It operates through four segments: U.S. Corrections & Detention, GEO Community Services, International Services, and Facility Construction & Design. The company owns, leases, and operates a range of correctional and detention facilities, including maximum, medium, and minimum security prisons; immigration detention centers; minimum security detention centers; and community based re-entry facilities. It offers correctional and detention management services that involves the provision of security, administrative, rehabilitation, education, and food services primarily at adult male correctional and detention facilities; engages in the supervision of adult parolees and probationers, as well as the provision of temporary housing, programming, employment assistance, and other services; and provides residential, detention, shelter care, and community based services with rehabilitative and educational programs. The company also provides monitoring services, and evidence-based supervision and treatment programs for community-based parolees, probationers, and pretrial defendants; and services to immigration and customs enforcement for the provision of services to improve the participation of non-detained aliens in the immigration court system. In addition, it offers transportation services for offender and detainee populations; and prisoner escort and custody services. As of February 21, 2013, the company owned and/or managed 100 facilities totaling approximately 73,000 beds. The GEO Group, Inc. was founded in 1984 and is headquartered in Boca Raton, Florida.

16,292 Employees
Last Reported Date: 03/3/14
Founded in 1984

geo group inc/the (GEO) Top Compensated Officers

Founder, Chairman, Chief Executive Officer, C...
Total Annual Compensation: $1.2M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $515.0K
Senior Vice President of Operations and Presi...
Total Annual Compensation: $515.0K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $448.1K
Compensation as of Fiscal Year 2013.

geo group inc/the (GEO) Key Developments

The GEO Group Announces Acquisition of Eight Correctional and Detention Facilities Totaling More Than 6,500 Beds

The GEO Group, Inc. announced the signing of a definitive agreement to acquire eight correctional and detention facilities (LCS Facilities) totaling more than 6,500 beds from LCS Corrections Services, Inc. The LCS transaction will be an asset purchase. Pursuant to the terms of the definitive agreement, GEO will acquire the LCS Facilities for approximately $312 million, or approximately $48,000 per bed, in an all cash transaction, excluding transaction related expenses. Additionally, LCS has the opportunity to receive an additional payment if the Facilities exceed certain performance targets after the closing over a period of approximately 18 months. The aggregate amount of the purchase price to be paid at closing and the Earnout Payment, if achieved, will not exceed $350 million. LCS will use the proceeds to repay approximately $302 million in outstanding net debt. GEO will not assume any debt as a result of the transaction. GEO will finance the acquisition of the LCS Facilities with borrowings under its $700 million Revolving Credit Facility. Following the LCS transaction, GEO will have approximately $260 million in available borrowing capacity under its Revolving Credit Facility. The transaction is expected to close by the end of February 2015, subject to the fulfillment of customary closing conditions. LCS owns and operates eight correctional and detention facilities located in Louisiana, Texas, and Alabama, totaling more than 6,500 beds. The LCS Facilities, which currently house offenders on behalf of federal, state, and local correctional and detention agencies, have been historically underutilized with current average occupancy rates of approximately 50%. More than two-thirds of revenues for LCS are generated under contracts with Federal correctional and detention agencies. Following the acquisition, GEO will own and/or manage 106 facilities totaling approximately 85,500 correctional, detention, and community reentry beds worldwide with a growing workforce of approximately 19,000 professionals. J.P. Morgan Securities LLC provided the GEO Board of Directors with a fairness opinion. Akerman LLP served as GEO's legal advisor. Shutts & Bowen LLP served as LCS's legal advisor.

The Geo Group, Inc. Wins Contract from Federal Bureau of Prisons

The GEO Group announced that it has signed contracts with the Federal Bureau of Prisons for the continuation of management at the Moshannon Valley Correctional Center in Pennsylvania and for the reactivation of the Great Plains Correctional Facility in Oklahoma. Under GEO's new ten-year contracts, inclusive of renewal options, with the BOP, the Facilities will house up to a combined 3,818 federal inmates and are expected to generate approximately $76.0 million in combined annualized revenues. The Great Plains Correctional Facility is expected to begin the intake process in the second quarter of 2015. The contract for the continued management of the Moshannon Valley Correctional Center will commence in the second quarter of 2016, following the expiration of the current contract.

The GEO Group Announces 626-Bed Expansion of the Karnes County Residential Center in Texas

The GEO Group announced the development of a 626-bed expansion to the company-owned, 532-bed Karnes County Residential Center in Texas under an amendment to GEO’s existing contract with Karnes County, Texas and the existing intergovernmental service agreement between Karnes County and U.S. Immigration and Customs Enforcement. GEO will finance, develop, and manage the $36 million expansion, which will increase the Facility’s total capacity to 1,158 beds. The expansion is expected to generate approximately $20 million in additional annualized revenues for GEO and returns on investment consistent with GEO’s company-owned facilities. GEO expects to complete the 626-bed expansion and begin intake in the fourth quarter of 2015.

 

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Industry Analysis

GEO

Industry Average

Valuation GEO Industry Range
Price/Earnings 23.3x
Price/Sales 1.9x
Price/Book 3.0x
Price/Cash Flow 13.9x
TEV/Sales 0.9x
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