Credit Suisse Group Cuts Healthcare Services Group (HCSG) Price Target to $48.00

Healthcare Services Group (NASDAQ:HCSG) had its price objective lowered by Credit Suisse Group from $62.00 to $48.00 in a research note released on Wednesday morning. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts have also recently weighed in on HCSG. Robert W. Baird decreased their price objective on Healthcare Services Group from $50.00 to $48.00 and set a hold rating for the company in a research note on Tuesday, April 17th. Stifel Nicolaus cut Healthcare Services Group from a buy rating to a hold rating and decreased their price objective for the stock from $57.00 to $44.00 in a research note on Wednesday. Zacks Investment Research upgraded Healthcare Services Group from a hold rating to a buy rating and set a $48.00 price objective for the company in a research note on Wednesday, April 11th. Finally, BidaskClub upgraded Healthcare Services Group from a sell rating to a hold rating in a research note on Friday, January 26th. 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 stock. The stock presently has an average rating of Hold and an average target price of $45.60.

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HCSG opened at $39.49 on Wednesday. The firm has a market cap of $2,879.38, a PE ratio of 33.18, a PEG ratio of 2.36 and a beta of 0.79. Healthcare Services Group has a 12-month low of $35.04 and a 12-month high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, April 17th. The business services provider reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.38). The company had revenue of $501.81 million for the quarter, compared to analysts’ expectations of $505.44 million. Healthcare Services Group had a return on equity of 16.99% and a net margin of 3.38%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. research analysts forecast that Healthcare Services Group will post 1.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, May 25th will be paid a dividend of $0.1925 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, May 24th. Healthcare Services Group’s dividend payout ratio is 63.87%.

In other Healthcare Services Group news, Director Robert J. Moss sold 2,000 shares of the stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $44.50, for a total value of $89,000.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at $89,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dino D. Ottaviano sold 1,500 shares of the 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 completion of the sale, the director now owns 2,044 shares of the company’s stock, valued at $92,286.60. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in HCSG. Captrust Financial Advisors purchased a new stake in Healthcare Services Group in the fourth quarter valued at about $118,000. Israel Discount Bank of New York raised its stake in Healthcare Services Group by 112.2% in the fourth quarter. Israel Discount Bank of New York now owns 2,515 shares of the business services provider’s stock valued at $133,000 after buying an additional 1,330 shares during the last quarter. We Are One Seven LLC purchased a new stake in Healthcare Services Group in the fourth quarter valued at about $155,000. M&T Bank Corp purchased a new stake in Healthcare Services Group in the fourth quarter valued at about $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Healthcare Services Group by 52.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,109 shares of the business services provider’s stock valued at $217,000 after buying an additional 1,409 shares during the last quarter. Institutional investors own 97.66% of the company’s stock.

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

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