Q1 2024 Earnings Estimate for Healthcare Services Group, Inc. Issued By William Blair (NASDAQ:HCSG)

Healthcare Services Group, Inc. (NASDAQ:HCSG) – Equities research analysts at William Blair lifted their Q1 2024 earnings estimates for Healthcare Services Group in a research note issued on Wednesday, April 24th. William Blair analyst R. Daniels now forecasts that the business services provider will earn $0.22 per share for the quarter, up from their previous forecast of $0.18. The consensus estimate for Healthcare Services Group’s current full-year earnings is $0.77 per share. William Blair also issued estimates for Healthcare Services Group’s FY2024 earnings at $0.80 EPS, Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.22 EPS.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $424.91 million. Healthcare Services Group had a net margin of 2.44% and a return on equity of 11.44%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada upped their price target 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. StockNews.com upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. UBS Group increased 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. Benchmark increased 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. Finally, Robert W. Baird increased 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.50.

Healthcare Services Group Stock Performance

HCSG stock opened at $11.00 on Friday. The company’s 50-day simple moving average is $12.23 and its 200 day simple moving average is $10.72. Healthcare Services Group has a 52 week low of $8.75 and a 52 week high of $15.97. The company has a market capitalization of $810.04 million, a PE ratio of 19.30 and a beta of 0.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new position in Healthcare Services Group in the 1st quarter valued at approximately $55,000. PNC Financial Services Group Inc. raised its holdings in Healthcare Services Group by 38.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock valued at $64,000 after buying an additional 1,714 shares during the last quarter. CWM LLC raised its holdings in Healthcare Services Group by 173.4% in the 3rd quarter. CWM LLC now owns 10,209 shares of the business services provider’s stock valued at $106,000 after buying an additional 6,475 shares during the last quarter. Corton Capital Inc. bought a new position in Healthcare Services Group in the 3rd quarter valued at approximately $129,000. Finally, Victory Capital Management Inc. raised its holdings in Healthcare Services Group by 14.0% in the 4th quarter. Victory Capital Management Inc. now owns 14,586 shares of the business services provider’s stock valued at $151,000 after buying an additional 1,795 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

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.