FY2017 EPS Estimates for Healthcare Services Group, Inc. Cut by Jefferies Group (HCSG)
Healthcare Services Group, Inc. (NASDAQ:HCSG) – Investment analysts at Jefferies Group cut their FY2017 earnings per share estimates for Healthcare Services Group in a research note issued on Wednesday. Jefferies Group analyst S. Dodge now anticipates that the business services provider will post earnings per share of $1.23 for the year, down from their previous estimate of $1.24. Jefferies Group has a “Hold” rating and a $52.00 price target on the stock. Jefferies Group also issued estimates for Healthcare Services Group’s Q4 2017 earnings at $0.32 EPS.
Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $491.40 million during the quarter, compared to the consensus estimate of $485.53 million. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS.
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A number of other brokerages have also issued reports on HCSG. Stifel Nicolaus reaffirmed a “buy” rating on shares of Healthcare Services Group in a research note on Thursday. Zacks Investment Research lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Robert W. Baird reaffirmed a “buy” rating and issued a $52.00 price target on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $56.00 price target (up from $50.00) on shares of Healthcare Services Group in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $53.60.
Healthcare Services Group (HCSG) opened at 52.62 on Monday. The stock’s 50 day moving average price is $52.92 and its 200-day moving average price is $49.42. Healthcare Services Group has a 52-week low of $34.83 and a 52-week high of $55.68. The company has a market capitalization of $3.87 billion, a P/E ratio of 44.22 and a beta of 0.62.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, November 17th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is 63.03%.
In other Healthcare Services Group news, Director Robert L. Frome sold 5,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, the director now owns 20,501 shares of the company’s stock, valued at $1,086,553. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael E. Mcbryan sold 22,500 shares of the business’s 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 transaction, the insider now directly owns 32,542 shares in the company, valued at approximately $1,686,326.44. The disclosure for this sale can be found here. Insiders have sold 34,750 shares of company stock worth $1,804,825 in the last three months. 4.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $126,000 after buying an additional 242 shares during the last quarter. LS Investment Advisors LLC boosted its stake 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 worth $133,000 after buying an additional 108 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake 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 worth $141,000 after buying an additional 135 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in Healthcare Services Group during the second quarter worth $170,000. Finally, Riverhead Capital Management LLC boosted its stake 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 worth $190,000 after buying an additional 1,659 shares during the last quarter. 91.48% of the stock is currently owned by institutional investors.
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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