Healthcare Services Group (NASDAQ:HCSG) Given “Market Perform” Rating at Northland Securities

Northland Securities restated their market perform rating on shares of Healthcare Services Group (NASDAQ:HCSG) in a research report report published on Tuesday morning, AnalystRatings.com reports. Northland Securities currently has a $33.00 price objective on the business services provider’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Healthcare Services Group from a sell rating to a hold rating in a research report on Wednesday, March 25th. BidaskClub lowered shares of Healthcare Services Group from a buy rating to a hold rating in a research report on Saturday, May 9th. Benchmark lowered shares of Healthcare Services Group from a buy rating to a hold rating in a research report on Monday. Credit Suisse Group reduced their price target on shares of Healthcare Services Group from $32.00 to $27.00 and set an outperform rating on the stock in a research report on Wednesday, April 22nd. Finally, Robert W. Baird raised shares of Healthcare Services Group from a neutral rating to an outperform rating and set a $28.00 price target on the stock in a research report on Monday, April 20th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Healthcare Services Group has an average rating of Hold and an average price target of $30.14.

HCSG opened at $22.50 on Tuesday. The company’s 50 day simple moving average is $24.11 and its two-hundred day simple moving average is $24.69. Healthcare Services Group has a 1-year low of $15.80 and a 1-year high of $31.84. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 22.28 and a beta of 0.61.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, April 21st. The business services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Healthcare Services Group had a net margin of 4.17% and a return on equity of 16.77%. The business had revenue of $449.20 million for the quarter, compared to analyst estimates of $448.18 million. During the same period last year, the company posted $0.12 EPS. The business’s revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts forecast that Healthcare Services Group will post 1.07 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 22nd were issued a $0.203 dividend. This represents a $0.81 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, May 21st. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s dividend payout ratio (DPR) is 93.10%.

A number of institutional investors have recently bought and sold shares of the stock. Amalgamated Bank increased its holdings in Healthcare Services Group by 3.5% in the 4th quarter. Amalgamated Bank now owns 14,276 shares of the business services provider’s stock valued at $347,000 after purchasing an additional 485 shares during the last quarter. Mason Street Advisors LLC increased its holdings in Healthcare Services Group by 1.4% in the 4th quarter. Mason Street Advisors LLC now owns 39,423 shares of the business services provider’s stock valued at $959,000 after purchasing an additional 556 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Healthcare Services Group by 4.6% in the 1st quarter. State of Alaska Department of Revenue now owns 12,746 shares of the business services provider’s stock valued at $304,000 after purchasing an additional 558 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Healthcare Services Group by 7.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,060 shares of the business services provider’s stock valued at $264,000 after purchasing an additional 803 shares during the last quarter. Finally, Rodgers Brothers Inc. increased its holdings in Healthcare Services Group by 2.8% in the 1st quarter. Rodgers Brothers Inc. now owns 33,300 shares of the business services provider’s stock valued at $796,000 after purchasing an additional 900 shares during 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 of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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