Healthcare Services Group Stock Price Down 6.5% Following Weak Earnings (HCSG)
Shares of Healthcare Services Group (NASDAQ:HCSG) fell 6.5% during mid-day trading on Wednesday following a weaker than expected earnings announcement, American Banking & Market News reports. The company traded as low as $27.75 and last traded at $28.20, with a volume of 1,048,795 shares traded. The stock had previously closed at $30.16.
The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.02. The company had revenue of $319.30 million for the quarter, compared to the consensus estimate of $321.99 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.1738 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.30%.
Separately, analysts at Stifel Nicolaus cut their price target on shares of Healthcare Services Group from $32.00 to $31.00 in a research note on Wednesday. They now have a “buy” rating on the stock.
The stock’s 50-day moving average is $29.76 and its 200-day moving average is $28.53. The company has a market cap of $1.991 billion and a price-to-earnings ratio of 45.63.
Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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