Healthcare Services Group, Inc. (NASDAQ:HCSG) – Investment analysts at William Blair lifted their Q3 2017 EPS estimates for shares of Healthcare Services Group in a report issued on Tuesday. William Blair analyst R. Daniels now anticipates that the business services provider will post earnings of $0.31 per share for the quarter, up from their previous estimate of $0.29. William Blair also issued estimates for Healthcare Services Group’s FY2018 earnings at $1.52 EPS.
HCSG has been the topic of several other research reports. Credit Suisse Group began coverage on Healthcare Services Group in a research note on Friday, May 19th. They issued an “outperform” rating and a $50.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 target price (up previously from $41.00) on shares of Healthcare Services Group in a report on Tuesday, June 6th. Stifel Nicolaus lifted their target price on Healthcare Services Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Robert W. Baird lifted their target price on Healthcare Services Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Healthcare Services Group presently has a consensus rating of “Buy” and an average price target of $52.17.
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Shares of Healthcare Services Group (HCSG) opened at 52.62 on Friday. Healthcare Services Group has a 12 month low of $34.83 and a 12 month high of $53.00. The stock has a market capitalization of $3.86 billion, a P/E ratio of 46.16 and a beta of 0.60. The company’s 50-day moving average is $47.31 and its 200 day moving average is $43.25.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Tuesday, July 11th. The business services provider reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The company had revenue of $470.90 million for the quarter, compared to the consensus estimate of $425.24 million. During the same period in the prior year, the firm posted $0.26 EPS. Healthcare Services Group’s revenue for the quarter was up 21.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in HCSG. HighTower Advisors LLC acquired a new position in shares of Healthcare Services Group during the first quarter valued at $202,000. Emerald Advisers Inc. PA acquired a new position in shares of Healthcare Services Group during the first quarter valued at $204,000. Harfst & Associates Inc. acquired a new position in shares of Healthcare Services Group during the first quarter valued at $206,000. Park National Corp OH acquired a new position in shares of Healthcare Services Group during the first quarter valued at $212,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Healthcare Services Group during the first quarter valued at $213,000. 94.20% of the stock is owned by institutional investors and hedge funds.
In other Healthcare Services Group news, Director Robert L. Frome sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $48.00, for a total value of $240,000.00. Following the completion of the transaction, the director now directly owns 25,501 shares of the company’s stock, valued at $1,224,048. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Mccartney sold 113,901 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $45.87, for a total value of $5,224,638.87. The disclosure for this sale can be found here. Insiders sold 128,886 shares of company stock valued at $5,935,234 over the last three months. 4.80% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be issued a $0.1888 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a yield of 1.43%. Healthcare Services Group’s payout ratio is presently 65.22%.
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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