Healthcare Services Group (NASDAQ:HCSG) Posts Earnings Results, Beats Expectations By $0.12 EPS

Healthcare Services Group (NASDAQ:HCSG) released its quarterly earnings data on Wednesday. The business services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12, FiscalAI reports. The business had revenue of $479.60 million during the quarter, compared to the consensus estimate of $480.80 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%. During the same quarter in the prior year, the company posted $0.59 earnings per share.

Healthcare Services Group Stock Up 1.8%

Shares of HCSG stock opened at $21.50 on Wednesday. Healthcare Services Group has a 12-month low of $16.40 and a 12-month high of $25.75. The firm has a fifty day moving average of $21.58 and a 200-day moving average of $21.83. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.50 and a beta of 0.81.

Analyst Ratings Changes

HCSG has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. Wall Street Zen cut Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research cut Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Oppenheimer started coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target on the stock. Finally, UBS Group increased their price target on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Insider Buying and Selling

In related news, COO Andrew Kush sold 15,598 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the sale, the chief operating officer owned 22,741 shares of the company’s stock, valued at approximately $528,500.84. This trade represents a 40.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.