Healthcare Services Group, Inc. (HCSG) Receives Average Recommendation of “Buy” from Analysts
Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been given an average recommendation of “Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $53.00.
Several research firms have weighed in on HCSG. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, July 14th. BidaskClub upgraded Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Credit Suisse Group reiterated an “outperform” rating and issued a $56.00 price objective (up previously from $50.00) on shares of Healthcare Services Group in a report on Thursday, July 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price objective on shares of Healthcare Services Group in a report on Tuesday, August 22nd. Finally, Robert W. Baird increased their price objective on Healthcare Services Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, July 12th. They noted that the move was a valuation call.
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In other news, CFO John Christopher Shea sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $52.00, for a total value of $247,000.00. Following the completion of the transaction, the chief financial officer now owns 7,157 shares in the company, valued at approximately $372,164. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael E. Mcbryan sold 22,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.82, for a total value of $1,165,950.00. Following the completion of the transaction, the insider now owns 32,542 shares of the company’s stock, valued at approximately $1,686,326.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,750 shares of company stock valued at $2,150,345. Company insiders own 4.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HCSG. BlackRock Inc. lifted its stake in shares of Healthcare Services Group by 145,799.8% in the 1st quarter. BlackRock Inc. now owns 8,780,248 shares of the business services provider’s stock valued at $378,341,000 after purchasing an additional 8,774,230 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Healthcare Services Group by 173.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,085,372 shares of the business services provider’s stock valued at $97,658,000 after purchasing an additional 1,322,948 shares during the period. Vanguard Group Inc. lifted its stake in shares of Healthcare Services Group by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 6,832,778 shares of the business services provider’s stock valued at $294,424,000 after purchasing an additional 418,676 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Healthcare Services Group by 25.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 979,394 shares of the business services provider’s stock valued at $42,202,000 after purchasing an additional 199,082 shares during the period. Finally, Geneva Advisors LLC lifted its stake in shares of Healthcare Services Group by 734.2% in the 2nd quarter. Geneva Advisors LLC now owns 191,918 shares of the business services provider’s stock valued at $8,988,000 after purchasing an additional 168,911 shares during the period. Institutional investors own 91.72% of the company’s stock.
Shares of Healthcare Services Group (NASDAQ HCSG) traded up 0.42% during trading on Friday, reaching $50.31. The company’s stock had a trading volume of 257,181 shares. The stock’s 50 day moving average price is $51.64 and its 200-day moving average price is $47.11. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 44.13 and a beta of 0.63. Healthcare Services Group has a 52-week low of $34.83 and a 52-week high of $54.28.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The business had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $425.24 million. During the same quarter last year, the business posted $0.26 EPS. The business’s revenue was up 21.8% on a year-over-year basis. Equities analysts anticipate that Healthcare Services Group will post $1.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be issued a $0.1888 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.76 annualized dividend and a yield of 1.50%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is 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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