Healthcare Services Group, Inc. (HCSG) Receives $55.33 Consensus PT from Brokerages

Healthcare Services Group, Inc. (NASDAQ:HCSG) has received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $55.33.

Several analysts recently weighed in on the stock. BidaskClub downgraded shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Jefferies Group set a $52.00 price objective on shares of Healthcare Services Group and gave the company a “hold” rating in a research report on Thursday, October 19th. Stifel Nicolaus reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, October 19th. Zacks Investment Research downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of Healthcare Services Group in a research report on Friday, November 3rd.

In other Healthcare Services Group news, EVP Michael E. Mcbryan sold 800 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $53.00, for a total transaction of $42,400.00. Following the sale, the executive vice president now directly owns 14,413 shares in the company, valued at approximately $763,889. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael E. Mcbryan sold 22,500 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.03, for a total transaction of $1,193,175.00. Following the sale, the insider now owns 14,413 shares in the company, valued at $764,321.39. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in HCSG. Janus Henderson Group PLC raised its position in shares of Healthcare Services Group by 173.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,085,372 shares of the business services provider’s stock worth $97,658,000 after buying an additional 1,322,948 shares in the last quarter. Atlantic Trust Group LLC bought a new stake in shares of Healthcare Services Group during the 3rd quarter worth about $39,425,000. Wasatch Advisors Inc. raised its holdings in shares of Healthcare Services Group by 24.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,248,276 shares of the business services provider’s stock worth $67,369,000 after purchasing an additional 242,741 shares in the last quarter. Geneva Advisors LLC raised its holdings in shares of Healthcare Services Group by 734.2% in the 2nd quarter. Geneva Advisors LLC now owns 191,918 shares of the business services provider’s stock worth $8,988,000 after purchasing an additional 168,911 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Healthcare Services Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,956,281 shares of the business services provider’s stock worth $325,763,000 after purchasing an additional 123,503 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Healthcare Services Group (NASDAQ HCSG) traded up $0.77 during midday trading on Monday, hitting $54.70. 642,702 shares of the stock traded hands, compared to its average volume of 355,896. The firm has a market cap of $3,931.10, a price-to-earnings ratio of 45.08, a PEG ratio of 3.93 and a beta of 0.62. Healthcare Services Group has a 1-year low of $37.54 and a 1-year high of $55.68.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, October 17th. The business services provider reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The firm had revenue of $491.40 million for the quarter, compared to the consensus estimate of $485.53 million. Healthcare Services Group had a net margin of 5.00% and a return on equity of 24.17%. Healthcare Services Group’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. sell-side analysts expect that Healthcare Services Group will post 1.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, November 17th will be given a $0.19 dividend. The ex-dividend date is Thursday, November 16th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 1.39%. Healthcare Services Group’s dividend payout ratio (DPR) is currently 63.87%.

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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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