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An announcement from Geo Group ( (GEO) ) is now available.
The GEO Group announced a $70 million investment to enhance its services for U.S. Immigration and Customs Enforcement (ICE), intending to expand detention capacity and improve secure transportation and electronic monitoring services. The company also introduced leadership changes with Brian Evans retiring as CEO, replaced by J. David Donahue, a seasoned professional in corrections and detention. These developments aim to position GEO for future growth and reduce debt through potential sales of underperforming facilities.
More about Geo Group
The GEO Group, Inc. is a leading diversified government service provider specializing in the design, financing, development, and support services for secure facilities, processing centers, and community reentry centers. Operating in the United States, Australia, South Africa, and the United Kingdom, GEO offers services including in-custody rehabilitation, post-release support, secure transportation, electronic monitoring, and correctional health care, managing approximately 99 facilities worldwide.
YTD Price Performance: 153.09%
Average Trading Volume: 3,291,861
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.83B
See more insights into GEO stock on TipRanks’ Stock Analysis page.
