Equities analysts expect Healthcare Services Group, Inc. (NASDAQ:HCSG) to announce sales of $492.06 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Healthcare Services Group’s earnings. The highest sales estimate is $510.90 million and the lowest is $481.96 million. Healthcare Services Group reported sales of $392.73 million during the same quarter last year, which indicates a positive year over year growth rate of 25.3%. The company is scheduled to announce its next quarterly earnings results on Tuesday, October 10th.

According to Zacks, analysts expect that Healthcare Services Group will report full year sales of $492.06 million for the current fiscal year, with estimates ranging from $1.85 billion to $1.91 billion. For the next financial year, analysts forecast that the business will post sales of $2.09 billion per share, with estimates ranging from $2.04 billion to $2.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, July 11th. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $425.24 million. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS.

A number of equities research analysts have recently weighed in on HCSG shares. Credit Suisse Group started coverage on shares of Healthcare Services Group in a research report on Friday, May 19th. They issued an “outperform” rating and a $50.00 price target for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price target (up from $41.00) on shares of Healthcare Services Group in a research report on Tuesday, June 6th. Robert W. Baird lifted their price target on shares of Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target (up from $48.00) on shares of Healthcare Services Group in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, July 14th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $53.00.

In related news, Director John Briggs sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $47.52, for a total value of $118,800.00. Following the sale, the director now owns 22,017 shares of the company’s stock, valued at $1,046,247.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert J. Moss sold 2,000 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $52.76, for a total transaction of $105,520.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at approximately $105,520. The disclosure for this sale can be found here. In the last three months, insiders sold 51,735 shares of company stock worth $2,620,940. 4.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of HCSG. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Healthcare Services Group by 9.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 242 shares during the last quarter. LS Investment Advisors LLC boosted its position in Healthcare Services Group by 4.0% during the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 108 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Healthcare Services Group by 4.7% during the second quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock valued at $141,000 after acquiring an additional 135 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in Healthcare Services Group during the second quarter valued at $170,000. Finally, Riverhead Capital Management LLC boosted its position in Healthcare Services Group by 69.1% during the second quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 1,659 shares during the last quarter. 91.72% of the stock is currently owned by institutional investors and hedge funds.

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Healthcare Services Group (HCSG) traded up 0.43% during trading on Monday, reaching $51.42. The company’s stock had a trading volume of 366,231 shares. The firm’s 50-day moving average is $51.85 and its 200-day moving average is $46.84. Healthcare Services Group has a 52-week low of $34.83 and a 52-week high of $54.28. The stock has a market cap of $3.76 billion, a P/E ratio of 45.11 and a beta of 0.63.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 18th will be paid a $0.1888 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.76 annualized dividend and a dividend yield of 1.47%. Healthcare Services Group’s payout ratio is currently 65.22%.

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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Earnings History and Estimates for Healthcare Services Group (NASDAQ:HCSG)

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