Healthcare Services Group, Inc. (NASDAQ:HCSG) Issues Earnings Results
Healthcare Services Group, Inc. (NASDAQ:HCSG) issued its earnings results on Monday. The business services provider reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01, Briefing.com reports. Healthcare Services Group had a net margin of 5.11% and a return on equity of 23.95%. The company had revenue of $470.90 million for the quarter, compared to the consensus estimate of $425.24 million. During the same quarter in the previous year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year.
Shares of Healthcare Services Group (HCSG) traded up 1.11% during midday trading on Tuesday, hitting $46.62. 447,390 shares of the stock traded hands. Healthcare Services Group has a 1-year low of $34.83 and a 1-year high of $50.00. The stock has a 50 day moving average of $47.31 and a 200 day moving average of $43.25. The company has a market capitalization of $3.40 billion, a P/E ratio of 42.77 and a beta of 0.60.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be paid a $0.1888 dividend. 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’s payout ratio is currently 67.57%.
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In related news, Director Daniel P. Mccartney sold 113,901 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $45.87, for a total value of $5,224,638.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert L. Frome sold 5,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $48.00, for a total value of $240,000.00. Following the completion of the transaction, the director now owns 25,501 shares in the company, valued at approximately $1,224,048. The disclosure for this sale can be found here. Insiders sold 128,886 shares of company stock worth $5,935,234 in the last 90 days. 4.80% of the stock is owned by company insiders.
Several equities research analysts have recently commented on HCSG shares. Stifel Nicolaus boosted their target price on shares of Healthcare Services Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Jefferies Group LLC restated a “hold” rating and issued a $49.00 target price on shares of Healthcare Services Group in a research note on Friday. Finally, Credit Suisse Group started coverage on shares of Healthcare Services Group in a research note on Friday, May 19th. They issued an “outperform” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $48.25.
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, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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