Healthcare Services Group (NASDAQ:HCSG) Releases Earnings Results, Beats Expectations By $0.04 EPS

Healthcare Services Group (NASDAQ:HCSG) posted its quarterly earnings data on Wednesday. The business services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04, Briefing.com reports. Healthcare Services Group had a net margin of 2.30% and a return on equity of 10.81%. The business had revenue of $423.40 million during the quarter, compared to the consensus estimate of $424.91 million. During the same period in the prior year, the firm earned $0.17 EPS. Healthcare Services Group’s quarterly revenue was up 1.5% compared to the same quarter last year.

Healthcare Services Group Stock Performance

Shares of NASDAQ:HCSG traded down $0.05 during midday trading on Thursday, reaching $11.17. 101,283 shares of the company’s stock were exchanged, compared to its average volume of 527,438. The company’s 50 day simple moving average is $12.23 and its two-hundred day simple moving average is $10.72. Healthcare Services Group has a 12 month low of $8.75 and a 12 month high of $15.97. The firm has a market capitalization of $822.56 million, a PE ratio of 21.13 and a beta of 0.49.

Analyst Upgrades and Downgrades

HCSG has been the subject of a number of research analyst reports. Benchmark upped their price target on Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. UBS Group increased their price target on shares of Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. StockNews.com upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Robert W. Baird increased their target price on shares of Healthcare Services Group from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada boosted their price target on Healthcare Services Group from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.50.

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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.