Healthcare Services Group Inc. (HCSG) Increases Dividend to $0.19 Per Share
Healthcare Services Group Inc. (NASDAQ:HCSG) announced a quarterly dividend on Tuesday, October 11th. Shareholders of record on Friday, November 18th will be paid a dividend of 0.185 per share on Friday, December 23rd. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.18.
Shares of Healthcare Services Group (NASDAQ:HCSG) traded down 0.83% during midday trading on Tuesday, hitting $39.46. 636,939 shares of the company’s stock were exchanged. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 45.30 and a beta of 0.64. The company has a 50-day moving average of $39.15 and a 200-day moving average of $38.76. Healthcare Services Group has a 52 week low of $31.50 and a 52 week high of $42.18.
Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.00. The business earned $392.70 million during the quarter, compared to the consensus estimate of $394.10 million. Healthcare Services Group had a net margin of 4.25% and a return on equity of 20.70%. Healthcare Services Group’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. Equities research analysts expect that Healthcare Services Group will post $1.05 EPS for the current fiscal year.
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In other Healthcare Services Group news, Director Robert L. Frome sold 3,365 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $38.10, for a total value of $128,206.50. Following the completion of the sale, the director now owns 33,866 shares of the company’s stock, valued at $1,290,294.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Healthcare Services Group during the second quarter valued at approximately $210,000. Miles Capital Inc. increased its stake in shares of Healthcare Services Group by 1.5% in the second quarter. Miles Capital Inc. now owns 6,847 shares of the company’s stock valued at $283,000 after buying an additional 99 shares during the last quarter. BlackRock Inc. increased its stake in shares of Healthcare Services Group by 51.7% in the second quarter. BlackRock Inc. now owns 7,121 shares of the company’s stock valued at $295,000 after buying an additional 2,428 shares during the last quarter. AHL Partners LLP increased its stake in shares of Healthcare Services Group by 76.4% in the second quarter. AHL Partners LLP now owns 12,447 shares of the company’s stock valued at $516,000 after buying an additional 5,389 shares during the last quarter. Finally, Ranger Investment Management L.P. increased its stake in shares of Healthcare Services Group by 94.2% in the second quarter. Ranger Investment Management L.P. now owns 12,450 shares of the company’s stock valued at $515,000 after buying an additional 6,040 shares during the last quarter. 94.89% of the stock is owned by hedge funds and other institutional investors.
HCSG has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Jefferies Group boosted their price target on shares of Healthcare Services Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, July 13th. William Blair downgraded shares of Healthcare Services Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Finally, Robert W. Baird initiated coverage on shares of Healthcare Services Group in a research note on Friday, September 16th. They set an “outperform” rating and a $46.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.33.
Healthcare Services Group Company Profile
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. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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