Jefferies Group Research Analysts Cut Earnings Estimates for Healthcare Services Group Inc. (HCSG)
Healthcare Services Group Inc. (NASDAQ:HCSG) – Investment analysts at Jefferies Group lowered their FY2017 earnings estimates for shares of Healthcare Services Group in a research report issued on Tuesday. Jefferies Group analyst S. Dodge now anticipates that the brokerage will post earnings per share of $1.16 for the year, down from their previous estimate of $1.22. Jefferies Group has a “Hold” rating and a $41.00 price target on the stock.
HCSG has been the topic of several other research reports. Zacks Investment Research raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Robert W. Baird began coverage on shares of Healthcare Services Group in a research note on Friday, September 16th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, William Blair cut shares of Healthcare Services Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $42.33.
Healthcare Services Group (NASDAQ:HCSG) traded up 1.96% on Thursday, hitting $38.06. 1,205,094 shares of the stock were exchanged. The firm has a market cap of $2.76 billion, a PE ratio of 43.70 and a beta of 0.64. The stock’s 50 day moving average price is $39.08 and its 200 day moving average price is $38.75. Healthcare Services Group has a 52-week low of $31.50 and a 52-week high of $42.18.
Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, October 11th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.00. Healthcare Services Group had a net margin of 4.33% and a return on equity of 21.32%. The business had revenue of $392.70 million for the quarter. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 9.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its position in Healthcare Services Group by 7.0% in the third quarter. Conestoga Capital Advisors LLC now owns 843,526 shares of the company’s stock valued at $33,387,000 after buying an additional 55,265 shares in the last quarter. Bath Savings Trust Co raised its position in Healthcare Services Group by 0.8% in the third quarter. Bath Savings Trust Co now owns 39,401 shares of the company’s stock valued at $1,560,000 after buying an additional 300 shares in the last quarter. Mason Street Advisors LLC bought a new position in Healthcare Services Group during the second quarter valued at approximately $585,000. Calvert Investment Management Inc. bought a new position in Healthcare Services Group during the second quarter valued at approximately $236,000. Finally, Schwab Charles Investment Management Inc. raised its position in Healthcare Services Group by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 316,323 shares of the company’s stock valued at $13,090,000 after buying an additional 12,532 shares in the last quarter. Institutional investors and hedge funds own 94.89% of the company’s stock.
In other news, Director Robert L. Frome sold 3,365 shares of Healthcare Services Group stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $38.10, for a total transaction of $128,206.50. Following the transaction, the director now owns 33,866 shares in the company, valued at approximately $1,290,294.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, November 18th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, November 16th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.18. Healthcare Services Group’s payout ratio is currently 80.44%.
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 of the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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