Healthcare Services Group (HCSG) Trading Down 0.6% Following Analyst Downgrade

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price fell 0.6% during trading on Thursday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The stock traded as low as $35.04 and last traded at $38.75. 1,047,818 shares were traded during trading, a decline of 6% from the average session volume of 1,117,260 shares. The stock had previously closed at $38.50.

HCSG has been the topic of several other reports. BidaskClub downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Robert W. Baird downgraded Healthcare Services Group from an “outperform” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Wednesday, February 7th. Stifel Nicolaus downgraded Healthcare Services Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $57.00 to $44.00 in a report on Wednesday. Jefferies Group set a $40.00 price objective on Healthcare Services Group and gave the stock a “hold” rating in a report on Tuesday. Finally, Credit Suisse Group dropped their price objective on Healthcare Services Group from $62.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.60.

In other news, Director Dino D. Ottaviano sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $45.15, for a total value of $67,725.00. Following the completion of the sale, the director now directly owns 2,044 shares in the company, valued at approximately $92,286.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Moss sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $44.50, for a total value of $89,000.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at $89,000. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors bought a new position in Healthcare Services Group during the 4th quarter worth $118,000. Israel Discount Bank of New York grew its stake in Healthcare Services Group by 112.2% during the 4th quarter. Israel Discount Bank of New York now owns 2,515 shares of the business services provider’s stock worth $133,000 after buying an additional 1,330 shares during the last quarter. We Are One Seven LLC bought a new position in Healthcare Services Group during the 4th quarter worth $155,000. M&T Bank Corp bought a new position in Healthcare Services Group during the 4th quarter worth $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Healthcare Services Group by 52.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,109 shares of the business services provider’s stock worth $217,000 after buying an additional 1,409 shares during the last quarter. Institutional investors and hedge funds own 97.66% of the company’s stock.

The company has a market capitalization of $2,991.37, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.79.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, April 17th. The business services provider reported $0.00 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.38). The company had revenue of $501.81 million for the quarter, compared to the consensus estimate of $505.44 million. Healthcare Services Group had a return on equity of 17.05% and a net margin of 3.38%. Healthcare Services Group’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. equities analysts predict that Healthcare Services Group, Inc. will post 1.67 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, May 25th will be paid a dividend of $0.1925 per share. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.77 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, May 24th. Healthcare Services Group’s dividend payout ratio is presently 63.87%.

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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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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