Healthcare Services Group Inc. (HCSG) Coverage Initiated at Robert W. Baird
Robert W. Baird initiated coverage on shares of Healthcare Services Group Inc. (NASDAQ:HCSG) in a research report released on Friday morning. The brokerage issued an outperform rating and a $46.00 target price on the stock.
A number of other equities analysts also recently issued reports on HCSG. Jefferies Group increased their price objective on shares of Healthcare Services Group from $36.00 to $41.00 and gave the company a hold rating in a research note on Wednesday, July 13th. Zacks Investment Research downgraded shares of Healthcare Services Group from a hold rating to a sell rating in a research note on Tuesday, July 12th. Finally, William Blair downgraded shares of Healthcare Services Group from an outperform rating to a market perform rating in a research note on Wednesday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Healthcare Services Group presently has a consensus rating of Hold and a consensus target price of $41.25.
Shares of Healthcare Services Group (NASDAQ:HCSG) opened at 38.39 on Friday. The stock’s 50 day moving average is $39.06 and its 200-day moving average is $38.37. The company has a market cap of $2.78 billion, a P/E ratio of 44.08 and a beta of 0.56. Healthcare Services Group has a 12 month low of $31.50 and a 12 month high of $42.18.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, July 12th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.26. Healthcare Services Group had a net margin of 4.25% and a return on equity of 20.70%. The firm had revenue of $386.56 million for the quarter, compared to the consensus estimate of $392.26 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Healthcare Services Group will post $1.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, August 19th will be issued a $0.1838 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.18. Healthcare Services Group’s dividend payout ratio (DPR) is currently 83.15%.
In other Healthcare Services Group news, Director Robert L. Frome sold 3,365 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $38.10, for a total value of $128,206.50. Following the completion of the transaction, the director now owns 33,866 shares of the company’s stock, valued at $1,290,294.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Healthcare Services Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 6,061,852 shares of the company’s stock worth $250,840,000 after buying an additional 146,501 shares in the last quarter. BlackRock Fund Advisors boosted its position in Healthcare Services Group by 1.8% in the second quarter. BlackRock Fund Advisors now owns 4,800,841 shares of the company’s stock worth $198,659,000 after buying an additional 85,537 shares in the last quarter. Janus Capital Management LLC boosted its position in Healthcare Services Group by 1.6% in the second quarter. Janus Capital Management LLC now owns 1,674,565 shares of the company’s stock worth $69,293,000 after buying an additional 26,483 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Healthcare Services Group by 7.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,395,375 shares of the company’s stock worth $51,364,000 after buying an additional 92,382 shares in the last quarter. Finally, State Street Corp boosted its position in Healthcare Services Group by 3.0% in the first quarter. State Street Corp now owns 1,386,588 shares of the company’s stock worth $51,035,000 after buying an additional 39,785 shares in the last quarter. 94.89% of the stock is owned by institutional investors and hedge funds.
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 of the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
Receive News & Ratings for Healthcare Services Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Healthcare Services Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.