Healthcare Services Group, Inc. (HCSG) Plans Dividend Increase – $0.19 Per Share
Healthcare Services Group, Inc. (NASDAQ:HCSG) declared a quarterly dividend on Tuesday, July 11th, RTT News reports. Stockholders of record on Friday, August 18th will be paid a dividend of 0.1888 per share by the business services provider on Friday, September 22nd. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19.
Healthcare Services Group has increased its dividend by an average of 2.9% per year over the last three years and has increased its dividend every year for the last 9 years. Healthcare Services Group has a dividend payout ratio of 62.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Healthcare Services Group to earn $1.36 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 55.1%.
Shares of Healthcare Services Group (NASDAQ:HCSG) traded up 1.11% on Tuesday, hitting $46.62. The stock had a trading volume of 446,417 shares. The company has a market cap of $3.40 billion, a P/E ratio of 42.77 and a beta of 0.60. Healthcare Services Group has a 52-week low of $34.83 and a 52-week high of $50.00. The company has a 50-day moving average of $47.31 and a 200-day moving average of $43.25.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, April 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $404.50 million during the quarter, compared to analyst estimates of $416.40 million. Healthcare Services Group had a return on equity of 23.95% and a net margin of 5.11%. Healthcare Services Group’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, equities analysts anticipate that Healthcare Services Group will post $1.21 EPS for the current fiscal year.
In related news, Director Robert L. Frome sold 7,485 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $47.00, for a total value of $351,795.00. Following the completion of the transaction, the director now owns 37,986 shares of the company’s stock, valued at $1,785,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Frome sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $48.00, for a total transaction of $240,000.00. Following the completion of the transaction, the director now directly owns 25,501 shares of the company’s stock, valued at approximately $1,224,048. The disclosure for this sale can be found here. Insiders sold 128,886 shares of company stock valued at $5,935,234 in the last three months. 4.80% of the stock is currently owned by insiders.
A number of equities analysts recently commented on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective on shares of Healthcare Services Group in a research note on Friday. Credit Suisse Group assumed coverage on shares of Healthcare Services Group in a research note on Friday, May 19th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Healthcare Services Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.25.
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, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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