Healthcare Services Group Inc. to Post FY2016 Earnings of $1.05 Per Share, William Blair Forecasts (HCSG)
Healthcare Services Group Inc. (NASDAQ:HCSG) – Equities researchers at William Blair increased their FY2016 earnings per share (EPS) estimates for Healthcare Services Group in a research report issued on Tuesday. William Blair analyst R. Daniels now expects that the brokerage will post earnings per share of $1.05 for the year, up from their prior forecast of $1.04. William Blair has a “Market Perform” rating on the stock.
Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, October 11th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.00. The business earned $392.70 million during the quarter. Healthcare Services Group had a net margin of 4.33% and a return on equity of 21.32%. Healthcare Services Group’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share.
Other equities analysts also recently issued reports about the stock. Jefferies Group increased their price objective on shares of Healthcare Services Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, July 13th. Zacks Investment Research upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Finally, Robert W. Baird began coverage on shares of Healthcare Services Group in a research note on Friday, September 16th. They issued an “outperform” rating and a $46.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Healthcare Services Group has a consensus rating of “Hold” and an average price target of $42.33.
Shares of Healthcare Services Group (NASDAQ:HCSG) traded up 1.42% during midday trading on Thursday, hitting $37.86. 734,362 shares of the stock were exchanged. The firm’s 50-day moving average is $39.08 and its 200-day moving average is $38.75. Healthcare Services Group has a 12 month low of $31.50 and a 12 month high of $42.18. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 43.47 and a beta of 0.64.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, November 18th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.98%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, November 16th. Healthcare Services Group’s dividend payout ratio (DPR) is 80.44%.
In other Healthcare Services Group news, Director Robert L. Frome sold 3,365 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $38.10, for a total value of $128,206.50. Following the completion of the transaction, the director now owns 33,866 shares of the company’s stock, valued at $1,290,294.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new position in Healthcare Services Group during the second quarter worth about $20,450,000. Henderson Group PLC boosted its position in Healthcare Services Group by 57.6% in the second quarter. Henderson Group PLC now owns 801,344 shares of the company’s stock worth $33,160,000 after buying an additional 292,858 shares in the last quarter. Credit Suisse AG boosted its position in Healthcare Services Group by 180.9% in the second quarter. Credit Suisse AG now owns 396,000 shares of the company’s stock worth $16,386,000 after buying an additional 255,047 shares in the last quarter. Renaissance Technologies LLC boosted its position in Healthcare Services Group by 256.6% in the first quarter. Renaissance Technologies LLC now owns 318,664 shares of the company’s stock worth $11,730,000 after buying an additional 229,300 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Healthcare Services Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 6,061,852 shares of the company’s stock worth $250,840,000 after buying an additional 146,501 shares in the last quarter. 94.89% of the stock is owned by institutional investors and hedge funds.
About Healthcare Services Group
Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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