Healthcare Services Group Inc. (NASDAQ:HCSG) – Equities researchers at William Blair increased their FY2016 EPS estimates for Healthcare Services Group in a research note issued on Tuesday. William Blair analyst R. Daniels now anticipates that the brokerage will earn $1.05 per share for the year, up from their previous forecast of $1.04. William Blair currently has a “Market Perform” rating on the stock.
Other research analysts have also recently issued research reports about the company. Jefferies Group lifted their target price on Healthcare Services Group from $36.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, July 13th. Zacks Investment Research cut Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, Robert W. Baird began coverage on Healthcare Services Group in a report on Friday, September 16th. They issued an “outperform” rating and a $46.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.33.
Shares of Healthcare Services Group (NASDAQ:HCSG) opened at 38.06 on Thursday. The company has a 50 day moving average price of $39.03 and a 200-day moving average price of $38.75. The firm has a market capitalization of $2.76 billion, a PE ratio of 43.70 and a beta of 0.64. Healthcare Services Group has a 12 month low of $31.50 and a 12 month high of $42.18.
Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, October 11th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.00. The firm earned $392.70 million during the quarter. Healthcare Services Group had a return on equity of 20.97% and a net margin of 4.33%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of HCSG. BlackRock Group LTD raised its stake in shares of Healthcare Services Group by 8.3% in the first quarter. BlackRock Group LTD now owns 89,297 shares of the company’s stock worth $3,287,000 after buying an additional 6,839 shares during the last quarter. Credit Agricole S A raised its stake in shares of Healthcare Services Group by 113.8% in the first quarter. Credit Agricole S A now owns 52,600 shares of the company’s stock worth $1,936,000 after buying an additional 28,000 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its stake in shares of Healthcare Services Group by 19.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 26,800 shares of the company’s stock worth $987,000 after buying an additional 4,400 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Healthcare Services Group by 32.9% in the second quarter. PNC Financial Services Group Inc. now owns 145,473 shares of the company’s stock worth $6,021,000 after buying an additional 35,999 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Healthcare Services Group by 100.2% in the first quarter. BlackRock Inc. now owns 4,693 shares of the company’s stock worth $173,000 after buying an additional 2,349 shares during the last quarter. Institutional investors own 94.89% of the company’s stock.
In other Healthcare Services Group news, Director Robert L. Frome sold 3,365 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $38.10, for a total transaction of $128,206.50. Following the transaction, the director now owns 33,866 shares in the company, valued at $1,290,294.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, November 18th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, November 16th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.18. Healthcare Services Group’s payout ratio is currently 80.44%.
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. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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