Healthcare Services Group Inc. (HCSG) Earns Outperform Rating from Analysts at Robert W. Baird
Robert W. Baird assumed coverage on shares of Healthcare Services Group Inc. (NASDAQ:HCSG) in a research note released on Friday. The brokerage issued an outperform rating and a $46.00 target price on the stock.
HCSG has been the subject of several other reports. Jefferies Group boosted their price objective on Healthcare Services Group from $36.00 to $41.00 and gave the stock a hold rating in a research note on Wednesday, July 13th. William Blair lowered Healthcare Services Group from an outperform rating to a market perform rating in a research note on Wednesday, September 7th. Finally, Zacks Investment Research lowered Healthcare Services Group from a hold rating to a sell rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $41.25.
Shares of Healthcare Services Group (NASDAQ:HCSG) opened at 37.83 on Friday. Healthcare Services Group has a 52 week low of $31.50 and a 52 week high of $42.18. The company’s 50 day moving average price is $39.06 and its 200-day moving average price is $38.37. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 43.43 and a beta of 0.56.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, July 12th. The company reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Healthcare Services Group had a return on equity of 20.70% and a net margin of 4.25%. The firm earned $386.56 million during the quarter, compared to analyst estimates of $392.26 million. During the same quarter in the previous year, the business earned $0.23 EPS. Healthcare Services Group’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts anticipate that Healthcare Services Group will post $1.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 19th will be given a $0.1838 dividend. The ex-dividend date is Wednesday, August 17th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.94%. Healthcare Services Group’s dividend payout ratio is 83.15%.
In other news, Director Robert L. Frome sold 3,365 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $38.10, for a total value of $128,206.50. Following the completion of the sale, the director now directly owns 33,866 shares in the company, valued at $1,290,294.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Healthcare Services Group during the fourth quarter worth about $25,598,000. Emerald Acquisition Ltd. bought a new stake in Healthcare Services Group during the second quarter worth about $20,450,000. Henderson Group PLC raised its stake in Healthcare Services Group by 57.6% in the second quarter. Henderson Group PLC now owns 801,344 shares of the company’s stock worth $33,160,000 after buying an additional 292,858 shares during the period. Credit Suisse AG raised its stake in Healthcare Services Group by 180.9% in the second quarter. Credit Suisse AG now owns 396,000 shares of the company’s stock worth $16,386,000 after buying an additional 255,047 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Healthcare Services Group by 256.6% in the first quarter. Renaissance Technologies LLC now owns 318,664 shares of the company’s stock worth $11,730,000 after buying an additional 229,300 shares during the period. Institutional investors and hedge funds own 94.89% of the company’s stock.
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 the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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