Healthcare Services Group (NASDAQ:HCSG) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Healthcare Services Group (NASDAQ:HCSGGet Rating) from a sell rating to a hold rating in a research note published on Tuesday.

HCSG has been the subject of several other research reports. Robert W. Baird increased their target price on shares of Healthcare Services Group from $17.00 to $23.00 in a research note on Thursday, April 21st. Credit Suisse Group increased their target price on shares of Healthcare Services Group from $17.00 to $18.00 and gave the stock a neutral rating in a research note on Thursday, April 21st. Finally, Royal Bank of Canada increased their target price on shares of Healthcare Services Group from $17.00 to $20.00 and gave the stock a sector perform rating in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $18.63.

Shares of HCSG stock opened at $17.41 on Tuesday. The firm has a market cap of $1.29 billion, a PE ratio of 39.57 and a beta of 0.37. The company has a 50-day moving average of $17.04 and a two-hundred day moving average of $17.25. Healthcare Services Group has a 1-year low of $14.75 and a 1-year high of $32.36.

Healthcare Services Group (NASDAQ:HCSGGet Rating) last announced its earnings results on Wednesday, April 20th. The business services provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The company had revenue of $426.80 million during the quarter, compared to analyst estimates of $424.78 million. Healthcare Services Group had a net margin of 1.96% and a return on equity of 6.97%. Healthcare Services Group’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Healthcare Services Group will post 0.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, May 20th were paid a $0.2125 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, May 19th. This represents a $0.85 annualized dividend and a dividend yield of 4.88%. Healthcare Services Group’s dividend payout ratio (DPR) is presently 193.19%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Markel Corp boosted its stake in shares of 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 valued at $22,293,000 after purchasing an additional 72,000 shares during the period. Bank of America Corp DE raised its holdings in Healthcare Services Group by 13.1% in the first quarter. Bank of America Corp DE now owns 463,517 shares of the business services provider’s stock valued at $8,607,000 after acquiring an additional 53,508 shares in the last quarter. Toroso Investments LLC acquired a new stake in Healthcare Services Group in the first quarter valued at approximately $580,000. Connors Investor Services Inc. raised its holdings in Healthcare Services Group by 4.9% in the first quarter. Connors Investor Services Inc. now owns 184,124 shares of the business services provider’s stock valued at $3,419,000 after acquiring an additional 8,520 shares in the last quarter. Finally, Avalon Investment & Advisory acquired a new stake in Healthcare Services Group in the first quarter valued at approximately $3,630,000.

Healthcare Services Group Company Profile (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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