Healthcare Services Group, Inc. (HCSG) Given Consensus Rating of “Buy” by Analysts
Healthcare Services Group, Inc. (NASDAQ:HCSG) has earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $51.75.
A number of equities analysts recently weighed in on HCSG shares. BidaskClub upgraded shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Robert W. Baird increased their target price on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, July 12th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “hold” rating and set a $49.00 target price (up from $41.00) on shares of Healthcare Services Group in a research note on Tuesday, June 6th. Zacks Investment Research lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of Healthcare Services Group in a report on Wednesday, July 12th.
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Healthcare Services Group (NASDAQ HCSG) traded down 0.22% on Wednesday, reaching $54.49. The company’s stock had a trading volume of 159,876 shares. The stock has a market cap of $3.99 billion, a PE ratio of 47.80 and a beta of 0.62. The company’s 50 day moving average price is $51.82 and its 200-day moving average price is $48.45. Healthcare Services Group has a 12-month low of $34.83 and a 12-month high of $55.68.
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 Zacks’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The firm had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $425.24 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities analysts expect that Healthcare Services Group will post $1.25 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, August 18th were issued a dividend of $0.1888 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Wednesday, August 16th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is presently 65.22%.
In related news, insider Michael E. Mcbryan sold 22,500 shares of Healthcare Services Group stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.82, for a total value of $1,165,950.00. Following the completion of the sale, the insider now owns 32,542 shares of the company’s stock, valued at $1,686,326.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Moss sold 2,000 shares of Healthcare Services Group stock in a transaction on Friday, July 14th. The stock was sold at an average price of $52.76, for a total value of $105,520.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $105,520. The disclosure for this sale can be found here. Insiders have sold 36,750 shares of company stock valued at $1,910,345 over the last three months. 4.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Healthcare Services Group by 9.8% in 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 period. LS Investment Advisors LLC boosted its position in Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after purchasing an additional 108 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Healthcare Services Group by 4.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock worth $141,000 after purchasing an additional 135 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in Healthcare Services Group in the second quarter worth about $170,000. Finally, Riverhead Capital Management LLC grew its stake in shares of Healthcare Services Group by 69.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock valued at $190,000 after purchasing an additional 1,659 shares during the period. Institutional investors own 91.72% of the company’s stock.
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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