Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Rating) – Investment analysts at Jefferies Financial Group boosted their Q2 2022 earnings per share (EPS) estimates for Healthcare Services Group in a report released on Wednesday, April 20th. Jefferies Financial Group analyst B. Tanquilut now anticipates that the business services provider will post earnings per share of $0.13 for the quarter, up from their prior forecast of $0.10. Jefferies Financial Group currently has a “Underperform” rating and a $13.50 target price on the stock. Jefferies Financial Group also issued estimates for Healthcare Services Group’s Q3 2022 earnings at $0.18 EPS and Q4 2022 earnings at $0.19 EPS.
Healthcare Services Group (NASDAQ:HCSG – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The business services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.09. The company had revenue of $426.80 million during the quarter, compared to analysts’ expectations of $424.78 million. Healthcare Services Group had a net margin of 2.79% and a return on equity of 9.58%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share.
A number of other equities research analysts also recently issued reports on HCSG. Royal Bank of Canada increased their price objective on shares of Healthcare Services Group from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Thursday. Credit Suisse Group lifted their price target on shares of Healthcare Services Group from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird boosted their price objective on Healthcare Services Group from $17.00 to $23.00 in a research note on Thursday. StockNews.com initiated coverage on Healthcare Services Group in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research raised Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.70.
NASDAQ HCSG opened at $19.79 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 31.92 and a beta of 0.35. The firm’s fifty day moving average price is $17.24 and its two-hundred day moving average price is $18.38. Healthcare Services Group has a 1 year low of $14.75 and a 1 year high of $32.96.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of Healthcare Services Group by 4.5% in the 2nd quarter. Bank of America Corp DE now owns 1,495,519 shares of the business services provider’s stock worth $47,213,000 after purchasing an additional 64,440 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Healthcare Services Group by 28.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 104,894 shares of the business services provider’s stock worth $2,621,000 after buying an additional 23,535 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Healthcare Services Group by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 52,453 shares of the business services provider’s stock worth $1,311,000 after buying an additional 711 shares during the last quarter. Maryland State Retirement & Pension System purchased a new stake in Healthcare Services Group during the 3rd quarter valued at about $738,000. Finally, Victory Capital Management Inc. grew its stake in Healthcare Services Group by 22.2% during the 3rd quarter. Victory Capital Management Inc. now owns 204,481 shares of the business services provider’s stock valued at $5,110,000 after purchasing an additional 37,102 shares during the last quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, May 20th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.85 annualized dividend and a dividend yield of 4.30%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.21. Healthcare Services Group’s dividend payout ratio (DPR) is 137.10%.
Healthcare Services Group Company Profile (Get Rating)
Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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