** Shares of GEO Group GEO.N down 2.1% premarket to $29.73 after qtrly results and annual earnings forecast shy of consensus

** Boca Raton, Florida-based prison operator posts adj Q1 EPS of 14 cents on rev of $604.6 mln, both below the 18 cents/sh in profit and $611.8 mln expected by analysts, per LSEG data

** Co raises full-yr EPS forecast to 77-89 cents, up from prior outlook of 74-88 cents, vs analysts' estimate of $1.17

** Updated guidance reflects growth in second half of year while first half to be impacted by higher overhead and operating expenses, along with increased capex to position co for anticipated future rev growth, GEO says

** "We believe we have an unprecedented opportunity to assist the federal government in meeting its expanded immigration enforcement priorities," CEO George Zoley said in the statement

** Through Tues close, GEO shares up 8.5% YTD

** GEO's stock has doubled since U.S. President Donald Trump's election victory. Trump's vow to crack down on illegal immigration viewed as potential tailwind for detention centers demand

** All 4 analysts covering GEO are bullish and their median PT is $46, up from $37 on Feb 7 - LSEG data shows

** Brentwood, Tennessee-based peer CoreCivic CXW.N slated to report its Q1 results after the bell on Weds. Its stock is down 2.4% at $22.51 before the bell

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))