Healthcare Services Group Inc. (HCSG) Issues Earnings Results
Healthcare Services Group Inc. (NASDAQ:HCSG) posted its quarterly earnings data on Tuesday. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.00. The company earned $392.70 million during the quarter, compared to analyst estimates of $394.10 million. Healthcare Services Group had a net margin of 4.25% and a return on equity of 20.70%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share.
Healthcare Services Group (NASDAQ:HCSG) traded down 0.83% during mid-day trading on Tuesday, hitting $39.46. 635,723 shares of the stock traded hands. The company has a 50 day moving average price of $39.15 and a 200-day moving average price of $38.76. The stock has a market capitalization of $2.86 billion, a PE ratio of 45.30 and a beta of 0.64. Healthcare Services Group has a one year low of $31.50 and a one year high of $42.18.
In other Healthcare Services Group news, Director Robert L. Frome sold 3,365 shares of the business’s stock in a transaction dated 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 approximately $1,290,294.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.80% of the stock is currently owned by company insiders.
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A number of hedge funds have recently bought and sold shares of HCSG. Rhumbline Advisers increased its stake in Healthcare Services Group by 2.4% in the second quarter. Rhumbline Advisers now owns 98,021 shares of the company’s stock worth $4,056,000 after buying an additional 2,344 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Healthcare Services Group by 5.7% in the second quarter. Teachers Advisors Inc. now owns 108,885 shares of the company’s stock worth $4,506,000 after buying an additional 5,847 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Healthcare Services Group during the second quarter worth $699,000. Credit Suisse AG increased its stake in shares of Healthcare Services Group by 180.9% in the second quarter. Credit Suisse AG now owns 396,000 shares of the company’s stock worth $16,386,000 after buying an additional 255,047 shares during the period. Finally, 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 worth $283,000 after buying an additional 99 shares during the period. 94.89% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on HCSG shares. William Blair lowered shares of Healthcare Services Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 7th. Robert W. Baird started coverage on shares of Healthcare Services Group in a report on Friday, September 16th. They set an “outperform” rating and a $46.00 price objective for the company. Zacks Investment Research lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, Jefferies Group raised their price objective on shares of Healthcare Services Group from $36.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average 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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