Healthcare Services Group, Inc. (NASDAQ:HCSG) has been given an average recommendation of “Buy” by the six analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $55.33.
HCSG has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, October 19th. Zacks Investment Research lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub upgraded Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC set a $52.00 price objective on Healthcare Services Group and gave the company a “hold” rating in a research note on Thursday, October 19th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Healthcare Services Group in a research note on Friday.
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In other Healthcare Services Group news, Director John Briggs sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $50.75, for a total value of $126,875.00. Following the sale, the director now owns 18,579 shares in the company, valued at $942,884.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in HCSG. UBS Asset Management Americas Inc. increased its stake in shares of Healthcare Services Group by 57.5% during the first quarter. UBS Asset Management Americas Inc. now owns 43,749 shares of the business services provider’s stock worth $1,885,000 after purchasing an additional 15,973 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Healthcare Services Group by 16.0% during the first quarter. OppenheimerFunds Inc. now owns 27,847 shares of the business services provider’s stock worth $1,200,000 after purchasing an additional 3,847 shares during the period. Teachers Advisors LLC increased its stake in shares of Healthcare Services Group by 8.4% during the first quarter. Teachers Advisors LLC now owns 121,573 shares of the business services provider’s stock worth $5,239,000 after purchasing an additional 9,418 shares during the period. Vanguard Group Inc. increased its stake in shares of Healthcare Services Group by 6.5% during the first quarter. Vanguard Group Inc. now owns 6,832,778 shares of the business services provider’s stock worth $294,424,000 after purchasing an additional 418,676 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Healthcare Services Group by 5.8% during the first quarter. Geode Capital Management LLC now owns 589,402 shares of the business services provider’s stock worth $25,397,000 after purchasing an additional 32,191 shares during the period. Institutional investors own 91.37% of the company’s stock.
Shares of Healthcare Services Group (NASDAQ HCSG) traded up $0.81 during midday trading on Friday, reaching $53.19. The company had a trading volume of 290,512 shares, compared to its average volume of 458,052. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 44.31 and a beta of 0.64.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The firm had revenue of $491.40 million during the quarter, compared to analysts’ expectations of $485.53 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. sell-side analysts predict that Healthcare Services Group will post 1.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, November 17th will be paid a $0.19 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, November 16th. This represents a $0.76 annualized dividend and a yield of 1.43%. Healthcare Services Group’s dividend payout ratio is currently 63.03%.
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, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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