Q3 2017 EPS Estimates for Healthcare Services Group, Inc. (HCSG) Increased by Analyst
Healthcare Services Group, Inc. (NASDAQ:HCSG) – Equities researchers at William Blair boosted their Q3 2017 earnings per share estimates for Healthcare Services Group in a research note issued on Tuesday. William Blair analyst R. Daniels now forecasts that the business services provider will post earnings of $0.31 per share for the quarter, up from their prior forecast of $0.29. William Blair also issued estimates for Healthcare Services Group’s FY2018 earnings at $1.52 EPS.
HCSG has been the topic of a number of other reports. Credit Suisse Group began coverage on Healthcare Services Group in a research report on Friday, May 19th. They set an “outperform” rating and a $50.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price objective (up from $41.00) on shares of Healthcare Services Group in a research report on Tuesday, June 6th. Stifel Nicolaus increased their price objective on Healthcare Services Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Robert W. Baird increased their price objective on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $53.00.
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Shares of Healthcare Services Group (NASDAQ:HCSG) opened at 52.33 on Friday. The company has a market cap of $3.83 billion, a P/E ratio of 45.90 and a beta of 0.60. Healthcare Services Group has a 52 week low of $34.83 and a 52 week high of $52.69. The firm’s 50-day moving average price is $47.31 and its 200 day moving average price is $43.25.
Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $470.90 million for the quarter, compared to the consensus estimate of $425.24 million. Healthcare Services Group had a return on equity of 24.72% and a net margin of 5.07%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be paid a $0.1888 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.44%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio is 65.22%.
In other news, Director Robert L. Frome sold 5,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $48.00, for a total value of $240,000.00. Following the transaction, the director now owns 25,501 shares of the company’s stock, valued at approximately $1,224,048. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel P. Mccartney sold 113,901 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $45.87, for a total value of $5,224,638.87. The disclosure for this sale can be found here. In the last three months, insiders sold 128,886 shares of company stock worth $5,935,234. 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 stock. BlackRock Inc. increased its position in Healthcare Services Group by 145,799.8% in the first quarter. BlackRock Inc. now owns 8,780,248 shares of the business services provider’s stock worth $378,341,000 after buying an additional 8,774,230 shares during the period. Norges Bank acquired a new stake in shares of Healthcare Services Group during the fourth quarter valued at approximately $22,959,000. Vanguard Group Inc. increased its stake in shares of Healthcare Services Group by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,832,778 shares of the business services provider’s stock valued at $294,424,000 after buying an additional 418,676 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Healthcare Services Group by 25.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 979,394 shares of the business services provider’s stock valued at $42,202,000 after buying an additional 199,082 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Healthcare Services Group by 8.5% in the first quarter. State Street Corp now owns 1,680,479 shares of the business services provider’s stock valued at $72,412,000 after buying an additional 131,987 shares during the last quarter. 94.20% of the stock is currently owned by institutional investors.
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, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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