Healthcare Services Group Inc. to Post FY2016 Earnings of $1.05 Per Share, William Blair Forecasts (HCSG)
Healthcare Services Group Inc. (NASDAQ:HCSG) – Research analysts at William Blair boosted their FY2016 EPS estimates for Healthcare Services Group in a note issued to investors on Tuesday. William Blair analyst R. Daniels now forecasts that the firm will post earnings per share of $1.05 for the year, up from their previous forecast of $1.04. William Blair currently has a “Market Perform” rating on the stock.
A number of other analysts also recently commented on HCSG. Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Jefferies Group increased their price target on Healthcare Services Group from $36.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, July 13th. Finally, Robert W. Baird initiated coverage on Healthcare Services Group in a research report on Friday, September 16th. They set an “outperform” rating and a $46.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Healthcare Services Group presently has a consensus rating of “Hold” and an average target price of $42.33.
Shares of Healthcare Services Group (NASDAQ:HCSG) traded up 1.42% during trading on Thursday, reaching $37.86. The company’s stock had a trading volume of 734,362 shares. The stock has a 50-day moving average of $39.08 and a 200-day moving average of $38.75. Healthcare Services Group has a 52-week low of $31.50 and a 52-week high of $42.18. The stock has a market cap of $2.74 billion, a P/E ratio of 43.47 and a beta of 0.64.
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Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.00. The firm earned $392.70 million during the quarter. Healthcare Services Group had a return on equity of 21.32% and a net margin of 4.33%. Healthcare Services Group’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share.
A number of institutional investors have recently made changes to their positions in the stock. Aperio Group LLC raised its position in Healthcare Services Group by 31.8% in the first quarter. Aperio Group LLC now owns 25,349 shares of the company’s stock worth $933,000 after buying an additional 6,122 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in Healthcare Services Group by 19.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 26,800 shares of the company’s stock worth $987,000 after buying an additional 4,400 shares during the last quarter. Prudential Financial Inc. raised its position in Healthcare Services Group by 3.3% in the first quarter. Prudential Financial Inc. now owns 173,308 shares of the company’s stock worth $6,379,000 after buying an additional 5,600 shares during the last quarter. BlackRock Inc. raised its position in Healthcare Services Group by 100.2% in the first quarter. BlackRock Inc. now owns 4,693 shares of the company’s stock worth $173,000 after buying an additional 2,349 shares during the last quarter. Finally, BlackRock Group LTD raised its position in Healthcare Services Group by 8.3% in the first quarter. BlackRock Group LTD now owns 89,297 shares of the company’s stock worth $3,287,000 after buying an additional 6,839 shares during the last quarter. 94.89% of the stock is owned by institutional investors and hedge funds.
In other Healthcare Services Group news, Director Robert L. Frome sold 3,365 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $38.10, for a total transaction of $128,206.50. Following the completion of the transaction, the director now directly owns 33,866 shares of the company’s stock, valued at $1,290,294.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.80% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.98%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, November 16th. Healthcare Services Group’s dividend payout ratio is 80.44%.
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 the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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