Zacks Investment Research downgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance and food services to the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals. Healthcare Services Group has the experience and expertise to meet these needs, making the preferred choice for hospital and senior living clients nationwide. Healthcare Services Group has delivered exceptional housekeeping/laundry and dining/nutrition services to an ever-changing healthcare industry. Healthcare Services provide professional management of ancillary services to a diverse mix of satisfied clients. Flexible and responsive, our people are trained to help you achieve success by delivering innovative solutions, exceptional performance and measurable results. “
Other equities research analysts have also issued research reports about the company. BidaskClub lowered Healthcare Services Group from a hold rating to a sell rating in a research report on Wednesday, February 7th. Robert W. Baird lowered Healthcare Services Group from an outperform rating to a neutral rating and set a $52.00 target price on the stock. in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $55.20.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, February 6th. The business services provider reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.04). The business had revenue of $499.41 million for the quarter, compared to analyst estimates of $499.37 million. Healthcare Services Group had a return on equity of 23.17% and a net margin of 4.73%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. research analysts forecast that Healthcare Services Group will post 1.67 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, February 16th were given a $0.1913 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is currently 63.87%.
In related news, Director Robert J. Moss sold 2,000 shares of Healthcare Services Group stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $44.50, for a total value of $89,000.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $89,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dino D. Ottaviano sold 1,500 shares of Healthcare Services Group stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $45.15, for a total value of $67,725.00. Following the completion of the sale, the director now directly owns 2,044 shares in the company, valued at approximately $92,286.60. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of HCSG. Captrust Financial Advisors acquired a new position in shares of Healthcare Services Group during the 4th quarter worth approximately $118,000. Israel Discount Bank of New York increased its position in shares of Healthcare Services Group by 112.2% during the 4th quarter. Israel Discount Bank of New York now owns 2,515 shares of the business services provider’s stock worth $133,000 after purchasing an additional 1,330 shares during the last quarter. We Are One Seven LLC acquired a new position in shares of Healthcare Services Group during the 4th quarter worth approximately $155,000. ETRADE Capital Management LLC acquired a new position in shares of Healthcare Services Group during the 3rd quarter worth approximately $202,000. Finally, M&T Bank Corp acquired a new position in shares of Healthcare Services Group during the 4th quarter worth approximately $208,000. 97.39% of the stock is currently owned by hedge funds and other institutional investors.
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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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