$506.23 Million in Sales Expected for Healthcare Services Group, Inc. (HCSG) This Quarter

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Wall Street brokerages expect that Healthcare Services Group, Inc. (NASDAQ:HCSG) will announce $506.23 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Healthcare Services Group’s earnings, with the highest sales estimate coming in at $508.10 million and the lowest estimate coming in at $504.90 million. Healthcare Services Group posted sales of $499.41 million in the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The company is expected to report its next earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Healthcare Services Group will report full-year sales of $2.02 billion for the current year. For the next year, analysts forecast that the company will post sales of $2.13 billion, with estimates ranging from $2.09 billion to $2.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, October 16th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The company had revenue of $506.90 million for the quarter, compared to analyst estimates of $510.27 million. Healthcare Services Group had a return on equity of 17.80% and a net margin of 3.59%. Healthcare Services Group’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share.

Several equities analysts recently issued reports on HCSG shares. Berenberg Bank started coverage on Healthcare Services Group in a research report on Thursday, October 4th. They issued a “hold” rating and a $40.00 price objective for the company. Stephens started coverage on Healthcare Services Group in a research report on Tuesday, October 2nd. They issued an “overweight” rating for the company. Zacks Investment Research lowered Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Jefferies Financial Group set a $53.00 price objective on Healthcare Services Group and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, Stifel Nicolaus lowered Healthcare Services Group from a “hold” rating to a “sell” rating and decreased their price objective for the company from $44.00 to $35.00 in a research report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $46.00.

In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $41.05, for a total value of $47,207.50. Following the sale, the director now owns 1,694 shares in the company, valued at approximately $69,538.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $41.64, for a total value of $124,961.64. Following the completion of the sale, the director now owns 3,001 shares in the company, valued at approximately $124,961.64. The disclosure for this sale can be found here. Insiders sold a total of 9,152 shares of company stock valued at $391,963 over the last quarter. 1.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCSG. Raymond James Trust N.A. bought a new stake in Healthcare Services Group in the 2nd quarter valued at approximately $203,000. Brookstone Capital Management bought a new stake in Healthcare Services Group in the 2nd quarter valued at approximately $203,000. Allianz Asset Management GmbH bought a new stake in Healthcare Services Group in the 1st quarter valued at approximately $212,000. Signature Financial Management Inc. bought a new stake in Healthcare Services Group in the 2nd quarter valued at approximately $216,000. Finally, Eqis Capital Management Inc. bought a new stake in Healthcare Services Group in the 2nd quarter valued at approximately $222,000.

Shares of Healthcare Services Group stock traded down $0.03 during trading on Monday, hitting $44.11. 508,917 shares of the company were exchanged, compared to its average volume of 975,337. Healthcare Services Group has a 1-year low of $35.04 and a 1-year high of $56.20. The firm has a market capitalization of $3.26 billion, a P/E ratio of 37.07 and a beta of 0.71.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 23rd will be given a $0.195 dividend. The ex-dividend date is Wednesday, November 21st. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 1.77%. Healthcare Services Group’s payout ratio is currently 64.71%.

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.

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