Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives $37.50 Average PT from Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have received a consensus recommendation of “Hold” from the twelve analysts that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $37.50.

A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 22nd. Stephens set a $42.00 price objective on shares of Healthcare Services Group and gave the company a “buy” rating in a research note on Thursday, May 2nd. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Healthcare Services Group in a research report on Friday, July 12th. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, June 27th. Finally, BidaskClub downgraded shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th.

Shares of HCSG traded up $0.24 during mid-day trading on Friday, reaching $22.11. 724,900 shares of the stock traded hands, compared to its average volume of 1,273,088. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 19.74 and a beta of 0.71. The stock has a fifty day simple moving average of $27.20 and a 200 day simple moving average of $32.63. Healthcare Services Group has a 12-month low of $21.79 and a 12-month high of $48.73.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.11). The firm had revenue of $462.10 million for the quarter, compared to analysts’ expectations of $477.68 million. Healthcare Services Group had a net margin of 4.38% and a return on equity of 19.40%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, research analysts predict that Healthcare Services Group will post 0.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.199 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s dividend payout ratio (DPR) is presently 70.54%.

In other news, Director Robert L. Frome sold 7,502 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $32.64, for a total transaction of $244,865.28. Following the completion of the sale, the director now owns 18,407 shares of the company’s stock, valued at $600,804.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in HCSG. Financial Gravity Wealth Inc. boosted its holdings in Healthcare Services Group by 1,148.6% in the second quarter. Financial Gravity Wealth Inc. now owns 899 shares of the business services provider’s stock worth $27,000 after purchasing an additional 827 shares during the period. Tompkins Financial Corp acquired a new position in Healthcare Services Group in the second quarter worth $30,000. Huntington National Bank boosted its holdings in Healthcare Services Group by 88.8% in the second quarter. Huntington National Bank now owns 1,210 shares of the business services provider’s stock worth $37,000 after purchasing an additional 569 shares during the period. Icon Wealth Partners LLC acquired a new position in Healthcare Services Group in the first quarter worth $45,000. Finally, Point72 Hong Kong Ltd acquired a new position in Healthcare Services Group in the second quarter worth $71,000.

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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Analyst Recommendations for Healthcare Services Group (NASDAQ:HCSG)

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