BidaskClub cut shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a hold rating in a research note released on Saturday.
A number of other brokerages have also issued reports on HCSG. Zacks Investment Research upgraded Healthcare Services Group from a sell rating to a hold rating in a report on Thursday, November 29th. ValuEngine upgraded Healthcare Services Group from a hold rating to a buy rating in a report on Friday, November 16th. Jefferies Financial Group set a $52.00 target price on Healthcare Services Group and gave the stock a buy rating in a report on Friday, December 14th. Finally, Stifel Nicolaus restated a sell rating on shares of Healthcare Services Group in a report on Saturday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $45.86.
Shares of NASDAQ HCSG opened at $38.74 on Friday. The company has a market capitalization of $2.86 billion, a P/E ratio of 34.59, a PEG ratio of 2.29 and a beta of 0.89. Healthcare Services Group has a 52-week low of $35.04 and a 52-week high of $49.78.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, February 5th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $496.41 million during the quarter, compared to analyst estimates of $507.45 million. Healthcare Services Group had a return on equity of 20.09% and a net margin of 4.16%. Healthcare Services Group’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. As a group, research analysts expect that Healthcare Services Group will post 1.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, February 15th will be issued a dividend of $0.1963 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.79 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s dividend payout ratio is currently 69.64%.
In other Healthcare Services Group news, Director Robert J. Moss sold 2,000 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $47.55, for a total transaction of $95,100.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at $95,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dino D. Ottaviano sold 700 shares of the company’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $46.98, for a total value of $32,886.00. Following the sale, the director now owns 1,244 shares of the company’s stock, valued at approximately $58,443.12. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in shares of Healthcare Services Group by 15.5% during the second quarter. Bank of New York Mellon Corp now owns 1,148,501 shares of the business services provider’s stock worth $49,606,000 after purchasing an additional 154,058 shares in the last quarter. FMR LLC acquired a new position in shares of Healthcare Services Group during the second quarter worth $96,315,000. Atria Investments LLC acquired a new position in shares of Healthcare Services Group during the third quarter worth $336,000. Bank of Montreal Can increased its position in shares of Healthcare Services Group by 2,233.7% during the third quarter. Bank of Montreal Can now owns 289,422 shares of the business services provider’s stock worth $11,757,000 after purchasing an additional 277,020 shares in the last quarter. Finally, Scout Investments Inc. increased its position in shares of Healthcare Services Group by 2.2% during the third quarter. Scout Investments Inc. now owns 92,660 shares of the business services provider’s stock worth $3,764,000 after purchasing an additional 1,968 shares in the last quarter.
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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