Healthcare Services Group (NASDAQ:HCSG) Issues Earnings Results

Healthcare Services Group (NASDAQ:HCSG) released its quarterly earnings data on Wednesday. The business services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12, FiscalAI reports. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The firm had revenue of $479.60 million during the quarter, compared to analysts’ expectations of $480.80 million. During the same period in the previous year, the business posted $0.59 earnings per share.

Healthcare Services Group Price Performance

HCSG opened at $21.50 on Wednesday. The business has a fifty day simple moving average of $21.58 and a 200 day simple moving average of $21.83. Healthcare Services Group has a 1 year low of $16.40 and a 1 year high of $25.75. The company has a market capitalization of $1.48 billion, a PE ratio of 12.50 and a beta of 0.81.

Insiders Place Their Bets

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the transaction, the chief operating officer owned 22,741 shares in the company, valued at $528,500.84. This trade represents a 40.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

HCSG has been the topic of several research analyst reports. Wall Street Zen lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Oppenheimer began coverage on shares of Healthcare Services Group in a report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 target price for the company. Zacks Research lowered shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Robert W. Baird lowered their price target on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Finally, Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.67.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.