Brokerages expect Healthcare Services Group, Inc. (NASDAQ:HCSG) to announce $428.93 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Healthcare Services Group’s earnings, with the lowest sales estimate coming in at $424.36 million and the highest estimate coming in at $440.00 million. Healthcare Services Group reported sales of $446.96 million in the same quarter last year, which indicates a negative year over year growth rate of 4%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 9th.
According to Zacks, analysts expect that Healthcare Services Group will report full-year sales of $1.77 billion for the current fiscal year, with estimates ranging from $1.76 billion to $1.78 billion. For the next financial year, analysts anticipate that the company will post sales of $1.78 billion, with estimates ranging from $1.75 billion to $1.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Healthcare Services Group.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, October 21st. The business services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.10. The company had revenue of $435.95 million for the quarter, compared to analyst estimates of $435.96 million. Healthcare Services Group had a net margin of 5.04% and a return on equity of 19.82%. Healthcare Services Group’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share.
HCSG has been the topic of several research analyst reports. BidaskClub raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 7th. Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. TheStreet raised Healthcare Services Group from a “c+” rating to a “b” rating in a research report on Friday, January 8th. Finally, Credit Suisse Group lowered their price target on Healthcare Services Group from $31.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.33.
In related news, EVP Michael E. Mcbryan sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $23.60, for a total value of $354,000.00. Following the transaction, the executive vice president now owns 39,328 shares in the company, valued at $928,140.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andrew Kush sold 2,000 shares of the stock in a transaction on Friday, December 4th. The shares were sold at an average price of $23.54, for a total value of $47,080.00. Following the transaction, the chief operating officer now directly owns 10,188 shares of the company’s stock, valued at $239,825.52. The disclosure for this sale can be found here. Insiders have sold 22,301 shares of company stock valued at $519,750 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in HCSG. Bank of Montreal Can lifted its position in Healthcare Services Group by 85.1% during the second quarter. Bank of Montreal Can now owns 22,905 shares of the business services provider’s stock valued at $545,000 after purchasing an additional 10,528 shares during the last quarter. Advisor Group Holdings Inc. raised its position in shares of Healthcare Services Group by 18.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 18,945 shares of the business services provider’s stock valued at $464,000 after buying an additional 2,991 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Healthcare Services Group by 4.1% during the 2nd quarter. Stifel Financial Corp now owns 109,721 shares of the business services provider’s stock worth $2,684,000 after acquiring an additional 4,331 shares during the last quarter. Bank of America Corp DE grew its position in Healthcare Services Group by 32.4% in the second quarter. Bank of America Corp DE now owns 1,298,238 shares of the business services provider’s stock worth $31,755,000 after acquiring an additional 317,973 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Healthcare Services Group by 1,060.6% in the second quarter. Cubist Systematic Strategies LLC now owns 97,239 shares of the business services provider’s stock valued at $2,378,000 after acquiring an additional 88,861 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.
Shares of HCSG stock opened at $32.14 on Thursday. The firm has a 50 day moving average of $26.62 and a 200-day moving average of $24.13. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 26.78 and a beta of 0.41. Healthcare Services Group has a 52 week low of $15.80 and a 52 week high of $32.47.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 24th. Investors of record on Friday, November 20th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Thursday, November 19th. This represents a $0.82 annualized dividend and a yield of 2.55%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s dividend payout ratio is presently 94.25%.
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. The company operates through two segments, Housekeeping and Dietary.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Healthcare Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Healthcare Services Group and related companies with MarketBeat.com's FREE daily email newsletter.