Healthcare Services Group Inc. (HCSG) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Healthcare Services Group Inc. (NASDAQ:HCSG) have been given a consensus rating of “Hold” by the five research firms that are currently covering the firm. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $42.33.
Several research firms recently weighed in on HCSG. William Blair lowered Healthcare Services Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 7th. Robert W. Baird began coverage on Healthcare Services Group in a report on Friday, September 16th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Zacks Investment Research upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Friday, September 23rd.
Shares of Healthcare Services Group (NASDAQ:HCSG) traded down 0.26% during mid-day trading on Monday, hitting $39.11. 93,327 shares of the stock were exchanged. The firm has a market cap of $2.84 billion, a P/E ratio of 43.41 and a beta of 0.67. The stock’s 50 day moving average is $37.16 and its 200 day moving average is $38.68. Healthcare Services Group has a 12 month low of $31.50 and a 12 month high of $42.18.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.00. Healthcare Services Group had a return on equity of 20.97% and a net margin of 4.33%. The company had revenue of $392.70 million for the quarter. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts expect that Healthcare Services Group will post $1.06 EPS for the current fiscal year.
The firm 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 is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.74 dividend on an annualized basis and a yield of 1.89%. Healthcare Services Group’s dividend payout ratio (DPR) is presently 80.44%.
In other Healthcare Services Group news, insider Michael E. Mcbryan sold 8,600 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $35.55, for a total value of $305,730.00. Following the sale, the insider now owns 18,070 shares in the company, valued at $642,388.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel P. Mccartney sold 100,000 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $38.47, for a total value of $3,847,000.00. Following the completion of the sale, the director now owns 2,057,244 shares in the company, valued at approximately $79,142,176.68. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Stephens Inc. AR raised its stake in Healthcare Services Group by 0.4% in the third quarter. Stephens Inc. AR now owns 6,168 shares of the company’s stock worth $244,000 after buying an additional 23 shares during the last quarter. 1st Global Advisors Inc. increased its position in Healthcare Services Group by 0.3% in the second quarter. 1st Global Advisors Inc. now owns 15,812 shares of the company’s stock worth $654,000 after buying an additional 40 shares during the last quarter. M&T Bank Corp increased its position in Healthcare Services Group by 0.7% in the third quarter. M&T Bank Corp now owns 6,203 shares of the company’s stock worth $246,000 after buying an additional 41 shares during the last quarter. Ashford Capital Management Inc. increased its position in Healthcare Services Group by 0.3% in the second quarter. Ashford Capital Management Inc. now owns 27,558 shares of the company’s stock worth $1,140,000 after buying an additional 92 shares during the last quarter. Finally, Miles Capital Inc. increased its position in Healthcare Services Group by 1.5% in the second quarter. Miles Capital Inc. now owns 6,847 shares of the company’s stock worth $283,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.
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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