Healthcare Services Group, Inc. (HCSG) Declares Dividend Increase – $0.19 Per Share
Healthcare Services Group, Inc. (NASDAQ:HCSG) announced a quarterly dividend on Tuesday, October 17th, RTT News reports. Investors of record on Friday, November 17th will be given a dividend of 0.19 per share by the business services provider on Friday, December 22nd. This represents a $0.76 annualized dividend and a yield of 1.40%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19.
Healthcare Services Group has increased its dividend payment by an average of 2.9% per year over the last three years and has raised its dividend every year for the last 9 years. Healthcare Services Group has a dividend payout ratio of 60.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Healthcare Services Group to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 53.1%.
Healthcare Services Group (NASDAQ:HCSG) traded down 0.15% during midday trading on Tuesday, reaching $54.37. 302,224 shares of the company traded hands. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 47.69 and a beta of 0.62. Healthcare Services Group has a 12 month low of $34.83 and a 12 month high of $55.68. The firm has a 50 day moving average of $52.68 and a 200-day moving average of $49.14.
Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The firm had revenue of $491.40 million during the quarter, compared to analysts’ expectations of $485.53 million. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Analysts forecast that Healthcare Services Group will post $1.25 EPS for the current fiscal year.
In other news, CFO John Christopher Shea sold 4,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $52.00, for a total value of $247,000.00. Following the sale, the chief financial officer now owns 7,157 shares of the company’s stock, valued at approximately $372,164. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Frome sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the sale, the director now directly owns 20,501 shares in the company, valued at approximately $1,086,553. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,750 shares of company stock valued at $1,804,825. Corporate insiders own 4.30% of the company’s stock.
Several research firms recently commented on HCSG. Robert W. Baird reiterated a “buy” rating and set a $52.00 target price on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Jefferies Group LLC reiterated a “hold” rating and set a $49.00 target price on shares of Healthcare Services Group in a research note on Friday, September 29th. BidaskClub upgraded shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Credit Suisse Group reiterated an “outperform” rating and set a $56.00 target price (up from $50.00) on shares of Healthcare Services Group in a research note on Thursday, July 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price (up from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Healthcare Services Group has a consensus rating of “Buy” and a consensus target price of $53.00.
TRADEMARK VIOLATION WARNING: “Healthcare Services Group, Inc. (HCSG) Declares Dividend Increase – $0.19 Per Share” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/10/17/healthcare-services-group-inc-hcsg-declares-dividend-increase-0-19-per-share.html.
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.
Receive News & Stock Ratings for Healthcare Services Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Healthcare Services Group Inc. and related stocks with our FREE daily email newsletter.