Healthcare Services Group (HCSG) Issues Quarterly Earnings Results, Misses Estimates By $0.38 EPS

Healthcare Services Group (NASDAQ:HCSG) released its quarterly earnings results on Tuesday. The business services provider reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.38), Yahoo Finance Previews reports. Healthcare Services Group had a return on equity of 17.05% and a net margin of 3.38%. The firm had revenue of $501.81 million for the quarter, compared to analysts’ expectations of $505.44 million. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year.

HCSG opened at $38.50 on Thursday. The stock has a market capitalization of $2,991.37, a price-to-earnings ratio of 32.35, a P/E/G ratio of 2.21 and a beta of 0.79. Healthcare Services Group has a twelve month low of $35.04 and a twelve month high of $56.20.

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The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, May 25th will be paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 2.00%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, May 24th. Healthcare Services Group’s payout ratio is presently 63.87%.

In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,500 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $45.15, for a total value of $67,725.00. Following the transaction, the director now directly owns 2,044 shares in the company, valued at $92,286.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Moss sold 2,000 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $44.50, for a total transaction of $89,000.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $89,000. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Several research analysts recently weighed in on HCSG shares. BidaskClub cut shares of Healthcare Services Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 27th. Zacks Investment Research upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, February 6th. Robert W. Baird cut shares of Healthcare Services Group from an “outperform” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Wednesday, February 7th. Credit Suisse Group cut their price target on shares of Healthcare Services Group from $62.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $57.00 to $44.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.60.

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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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

Earnings History for Healthcare Services Group (NASDAQ:HCSG)

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