Healthcare Services Group, Inc. (NASDAQ:HCSG) shares rose 10.3% on Wednesday after the company announced a dividend. The company traded as high as $30.69 and last traded at $28.88, approximately 2,157,100 shares changed hands during trading. An increase of 270% from the average daily volume of 582,595 shares. The stock had previously closed at $26.19.
The newly announced dividend which will be paid on Friday, March 27th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.201 per share. The ex-dividend date is Thursday, February 27th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.20. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.74%. Healthcare Services Group’s dividend payout ratio is 71.43%.
HCSG has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Healthcare Services Group in a research note on Wednesday. They set a “hold” rating and a $25.00 price target on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Healthcare Services Group in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $34.00 price objective (down from $37.00) on shares of Healthcare Services Group in a research report on Wednesday, October 23rd. Royal Bank of Canada initiated coverage on shares of Healthcare Services Group in a research report on Wednesday, November 27th. They issued a “sector perform” rating and a $26.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $33.57.
The firm’s 50-day moving average is $26.02 and its 200 day moving average is $24.66. The firm has a market capitalization of $1.96 billion, a PE ratio of 28.47 and a beta of 0.75.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, February 11th. The business services provider reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. Healthcare Services Group had a net margin of 4.09% and a return on equity of 17.28%. The business had revenue of $446.96 million for the quarter, compared to analyst estimates of $444.52 million. On average, equities analysts predict that Healthcare Services Group, Inc. will post 0.86 EPS for the current year.
Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its holdings in Healthcare Services Group by 273.1% in the 4th quarter. Advisory Services Network LLC now owns 1,388 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,016 shares in the last quarter. Arlington Partners LLC purchased a new position in Healthcare Services Group in the 4th quarter valued at about $46,000. Quadrant Capital Group LLC lifted its holdings in Healthcare Services Group by 6,935.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,392 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 2,358 shares in the last quarter. NEXT Financial Group Inc lifted its holdings in Healthcare Services Group by 15.3% in the 3rd quarter. NEXT Financial Group Inc now owns 3,347 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 444 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new position in Healthcare Services Group in the 3rd quarter valued at about $88,000.
Healthcare Services Group Company Profile (NASDAQ:HCSG)
Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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