Healthcare Services Group (NASDAQ:HCSG) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Healthcare Services Group (NASDAQ:HCSG) issued its quarterly earnings results on Wednesday. The business services provider reported $0.22 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 firm had revenue of $423.40 million during the quarter, compared to analyst estimates of $424.91 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Healthcare Services Group’s revenue for the quarter was up 1.5% compared to the same quarter last year.

Healthcare Services Group Trading Down 0.9 %

HCSG stock traded down $0.10 during mid-day trading on Thursday, hitting $11.12. 92,638 shares of the company were exchanged, compared to its average volume of 527,318. The company has a market capitalization of $818.88 million, a PE ratio of 21.13 and a beta of 0.49. Healthcare Services Group has a twelve month low of $8.75 and a twelve month high of $15.97. The firm has a fifty day simple moving average of $12.23 and a 200 day simple moving average of $10.72.

Wall Street Analyst Weigh In

HCSG has been the subject of several research reports. Benchmark boosted their price objective on shares of Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Robert W. Baird boosted their price objective on shares of Healthcare Services Group from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. UBS Group boosted their price objective on shares of Healthcare Services Group from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. StockNews.com upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada upped their target price on shares of 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.50.

Healthcare Services Group Company Profile

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.