Zacks: Analysts Anticipate Healthcare Services Group, Inc. (NASDAQ:HCSG) Will Post Quarterly Sales of $425.28 Million

Brokerages predict that Healthcare Services Group, Inc. (NASDAQ:HCSGGet Rating) will report sales of $425.28 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Healthcare Services Group’s earnings. The highest sales estimate is $428.24 million and the lowest is $422.00 million. Healthcare Services Group posted sales of $398.17 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Healthcare Services Group will report full-year sales of $1.72 billion for the current fiscal year, with estimates ranging from $1.71 billion to $1.74 billion. For the next financial year, analysts anticipate that the business will report sales of $1.78 billion, with estimates ranging from $1.76 billion to $1.82 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSGGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The business services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.09. The business had revenue of $426.80 million during the quarter, compared to analysts’ expectations of $424.78 million. Healthcare Services Group had a net margin of 1.96% and a return on equity of 6.97%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 EPS.

Several analysts recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Healthcare Services Group from $17.00 to $23.00 in a report on Thursday, April 21st. Credit Suisse Group lifted their price target on shares of Healthcare Services Group from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 21st. StockNews.com assumed coverage on shares of Healthcare Services Group in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Royal Bank of Canada lifted their price target on shares of Healthcare Services Group from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Thursday, April 21st. Finally, Zacks Investment Research upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Healthcare Services Group presently has a consensus rating of “Hold” and a consensus target price of $21.70.

HCSG traded down $0.71 during trading on Wednesday, hitting $17.09. 765,173 shares of the stock traded hands, compared to its average volume of 1,340,286. The firm has a market capitalization of $1.27 billion, a P/E ratio of 38.84 and a beta of 0.35. The firm has a 50-day moving average of $17.39 and a 200 day moving average of $18.07. Healthcare Services Group has a 12-month low of $14.75 and a 12-month high of $32.96.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 20th will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 4.97%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, May 19th. Healthcare Services Group’s dividend payout ratio is presently 193.19%.

A number of hedge funds have recently modified their holdings of the stock. Markel Corp grew its stake in Healthcare Services Group by 6.4% in the first quarter. Markel Corp now owns 1,200,500 shares of the business services provider’s stock worth $22,293,000 after purchasing an additional 72,000 shares during the period. Hardy Reed LLC bought a new position in Healthcare Services Group during the 1st quarter valued at approximately $98,000. Financial Management Professionals Inc. bought a new position in Healthcare Services Group during the 1st quarter valued at approximately $69,000. Riverbridge Partners LLC raised its holdings in Healthcare Services Group by 11.1% in the 1st quarter. Riverbridge Partners LLC now owns 3,828,509 shares of the business services provider’s stock worth $71,095,000 after acquiring an additional 381,164 shares during the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in Healthcare Services Group in the 1st quarter worth approximately $496,000.

About Healthcare Services Group (Get Rating)

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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