Healthcare Services Group (NASDAQ:HCSG) Announces Quarterly Earnings Results

Healthcare Services Group (NASDAQ:HCSG) announced its earnings results on Wednesday. The business services provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04, Briefing.com reports. The firm had revenue of $423.40 million for the quarter, compared to the consensus estimate of $424.91 million. Healthcare Services Group had a return on equity of 10.81% and a net margin of 2.30%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS.

Healthcare Services Group Stock Performance

Shares of HCSG traded up $0.02 during midday trading on Thursday, hitting $11.24. 81,631 shares of the company traded hands, compared to its average volume of 527,188. Healthcare Services Group has a 52 week low of $8.75 and a 52 week high of $15.97. The firm has a 50 day moving average of $12.24 and a 200-day moving average of $10.72. The stock has a market cap of $827.71 million, a price-to-earnings ratio of 21.17 and a beta of 0.49.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HCSG shares. StockNews.com raised Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Benchmark boosted their target price on Healthcare Services Group from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Royal Bank of Canada boosted their target price on Healthcare Services Group from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. UBS Group boosted their target price on Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, Robert W. Baird boosted their price objective on Healthcare Services Group from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Healthcare Services Group has an average rating of “Hold” and an average price target of $14.50.

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