Healthcare Services Group (NASDAQ:HCSG) posted its quarterly earnings results on Tuesday. The business services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02), Bloomberg Earnings reports. The company had revenue of $506.90 million for the quarter, compared to the consensus estimate of $510.27 million. Healthcare Services Group had a net margin of 3.48% and a return on equity of 17.46%. Healthcare Services Group’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
NASDAQ:HCSG traded up $1.08 on Tuesday, reaching $40.69. 1,210,400 shares of the company’s stock were exchanged, compared to its average volume of 971,763. The firm has a market capitalization of $3.00 billion, a PE ratio of 34.19 and a beta of 0.81. Healthcare Services Group has a 52 week low of $35.04 and a 52 week high of $56.20.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 1.92%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is currently 64.71%.
In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,150 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $41.05, for a total transaction of $47,207.50. Following the completion of the transaction, the director now owns 1,694 shares in the company, valued at $69,538.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Moss sold 3,001 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $41.64, for a total transaction of $124,961.64. Following the transaction, the director now owns 3,001 shares of the company’s stock, valued at approximately $124,961.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
HCSG has been the subject of several research reports. Berenberg Bank initiated coverage on shares of Healthcare Services Group in a research report on Thursday, October 4th. They set a “hold” rating and a $40.00 price target for the company. Zacks Investment Research lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Stifel Nicolaus lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating and reduced their price target for the company from $44.00 to $35.00 in a research report on Wednesday, July 18th. Jefferies Financial Group set a $53.00 price target on shares of Healthcare Services Group and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, Stephens initiated coverage on shares of Healthcare Services Group in a research report on Tuesday, October 2nd. They set an “overweight” rating for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Healthcare Services Group presently has a consensus rating of “Hold” and a consensus price target of $46.00.
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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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