Healthcare Services Group (NASDAQ:HCSG) announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.24), Briefing.com reports. Healthcare Services Group had a net margin of 4.67% and a return on equity of 21.65%. The firm had revenue of $476.11 million for the quarter, compared to analysts’ expectations of $489.64 million. The business’s quarterly revenue was down 4.9% compared to the same quarter last year.
NASDAQ HCSG traded up $0.14 on Friday, reaching $32.59. 504,132 shares of the company were exchanged, compared to its average volume of 979,135. The firm has a market capitalization of $2.41 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. Healthcare Services Group has a fifty-two week low of $28.24 and a fifty-two week high of $48.73.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 24th will be paid a $0.1975 dividend. The ex-dividend date is Thursday, May 23rd. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.42%. Healthcare Services Group’s payout ratio is currently 70.54%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Group One Trading L.P. boosted its stake in Healthcare Services Group by 1,942.1% during the fourth quarter. Group One Trading L.P. now owns 700 shares of the business services provider’s stock worth $28,000 after buying an additional 738 shares during the last quarter. Kore Private Wealth LLC acquired a new position in shares of Healthcare Services Group in the 1st quarter valued at $25,000. Csenge Advisory Group acquired a new position in shares of Healthcare Services Group in the 3rd quarter valued at $37,000. Whittier Trust Co. lifted its stake in shares of Healthcare Services Group by 2,149.1% in the 4th quarter. Whittier Trust Co. now owns 1,282 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in shares of Healthcare Services Group in the 1st quarter valued at $45,000.
Several brokerages have weighed in on HCSG. ValuEngine raised Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Stephens set a $42.00 price objective on Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Jefferies Financial Group set a $48.00 price objective on Healthcare Services Group and gave the stock a “buy” rating in a research note on Friday, April 12th. BidaskClub upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Finally, Robert W. Baird reduced their price target on Healthcare Services Group from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Healthcare Services Group presently has a consensus rating of “Hold” and a consensus target price of $41.33.
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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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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