Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Rating) have been assigned an average recommendation of "Hold" from the seven research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $15.88.
Several brokerages have issued reports on HCSG. Robert W. Baird cut their price target on Healthcare Services Group from $23.00 to $15.00 in a report on Thursday, July 21st. Credit Suisse Group cut their price target on Healthcare Services Group to $15.00 in a report on Friday, July 22nd. Finally, StockNews.com raised Healthcare Services Group from a "sell" rating to a "hold" rating in a research note on Tuesday, June 28th.
Get Healthcare Services Group alerts:Hedge Funds Weigh In On Healthcare Services Group
Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Healthcare Services Group by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,774 shares of the business services provider's stock valued at $312,000 after purchasing an additional 725 shares in the last quarter. National Bank of Canada FI lifted its holdings in Healthcare Services Group by 4.1% in the second quarter. National Bank of Canada FI now owns 18,485 shares of the business services provider's stock worth $322,000 after purchasing an additional 726 shares during the period. Texas Permanent School Fund lifted its holdings in Healthcare Services Group by 1.4% in the 2nd quarter. Texas Permanent School Fund now owns 53,571 shares of the business services provider's stock valued at $933,000 after acquiring an additional 726 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in Healthcare Services Group by 7.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,992 shares of the business services provider's stock worth $204,000 after buying an additional 782 shares during the period. Finally, Repertoire Partners LP increased its holdings in shares of Healthcare Services Group by 7.9% in the 2nd quarter. Repertoire Partners LP now owns 10,900 shares of the business services provider's stock valued at $190,000 after purchasing an additional 800 shares during the period.
Healthcare Services Group Stock Up 3.0 %
Shares of HCSG opened at $13.97 on Thursday. Healthcare Services Group has a 12-month low of $13.28 and a 12-month high of $27.14. The business has a 50-day simple moving average of $15.29 and a two-hundred day simple moving average of $16.52. The stock has a market cap of $1.03 billion, a PE ratio of 34.93 and a beta of 0.21.Healthcare Services Group (NASDAQ:HCSG – Get Rating) last issued its earnings results on Wednesday, July 20th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). Healthcare Services Group had a return on equity of 6.56% and a net margin of 1.77%. The firm had revenue of $424.90 million during the quarter, compared to analyst estimates of $427.22 million. During the same period in the previous year, the company earned $0.13 EPS. Healthcare Services Group's revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities research analysts expect that Healthcare Services Group will post 0.44 EPS for the current year.
Healthcare Services Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 19th will be paid a dividend of $0.2138 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 6.12%. This is a boost from Healthcare Services Group's previous quarterly dividend of $0.21. Healthcare Services Group's payout ratio is currently 215.00%.
About Healthcare Services Group
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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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