Healthcare Services Group, Inc. (HCSG) Expected to Post Quarterly Sales of $506.23 Million

Equities analysts predict that Healthcare Services Group, Inc. (NASDAQ:HCSG) will announce sales of $506.23 million for the current quarter, Zacks reports. Four analysts have issued estimates for Healthcare Services Group’s earnings, with estimates ranging from $504.90 million to $508.10 million. Healthcare Services Group reported sales of $499.41 million during the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The company is scheduled to report its next earnings results on Tuesday, February 5th.

On average, analysts expect that Healthcare Services Group will report full year sales of $2.02 billion for the current financial year. For the next fiscal year, analysts anticipate that the firm will post sales of $2.13 billion, with estimates ranging from $2.09 billion to $2.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, October 16th. The business services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Healthcare Services Group had a net margin of 3.59% and a return on equity of 17.80%. The firm had revenue of $506.90 million during the quarter, compared to analysts’ expectations of $510.27 million. During the same quarter in the prior year, the firm posted $0.31 EPS. Healthcare Services Group’s quarterly revenue was up 3.2% compared to the same quarter last year.

A number of research firms have recently issued reports on HCSG. BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 24th. ValuEngine raised Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Berenberg Bank began coverage on Healthcare Services Group in a report on Thursday, October 4th. They issued a “hold” rating and a $40.00 target price on the stock. Zacks Investment Research lowered Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Finally, Stephens began coverage on Healthcare Services Group in a report on Tuesday, October 2nd. They issued an “overweight” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $46.00.

Shares of NASDAQ:HCSG traded down $0.10 during trading on Monday, reaching $44.14. The company had a trading volume of 407,838 shares, compared to its average volume of 964,514. The firm has a market cap of $3.20 billion, a P/E ratio of 37.10 and a beta of 0.71. Healthcare Services Group has a fifty-two week low of $35.04 and a fifty-two week high of $56.20.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 23rd will be issued a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is presently 64.71%.

In related news, Director Dino D. Ottaviano sold 1,150 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $41.05, for a total transaction of $47,207.50. Following the transaction, the director now owns 1,694 shares of the company’s stock, valued at $69,538.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Moss sold 3,001 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $41.64, for a total value of $124,961.64. Following the transaction, the director now directly owns 3,001 shares in the company, valued at approximately $124,961.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC grew its holdings in Healthcare Services Group by 3.0% during the second quarter. MetLife Investment Advisors LLC now owns 80,115 shares of the business services provider’s stock worth $3,460,000 after acquiring an additional 2,325 shares during the period. Stephens Inc. AR grew its holdings in Healthcare Services Group by 34.0% during the second quarter. Stephens Inc. AR now owns 8,712 shares of the business services provider’s stock worth $376,000 after acquiring an additional 2,211 shares during the period. Liberty Mutual Group Asset Management Inc. acquired a new position in Healthcare Services Group during the second quarter worth $634,000. Vident Investment Advisory LLC grew its holdings in Healthcare Services Group by 101.0% during the second quarter. Vident Investment Advisory LLC now owns 60,791 shares of the business services provider’s stock worth $2,626,000 after acquiring an additional 30,554 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Healthcare Services Group by 52.6% during the second quarter. Janus Henderson Group PLC now owns 3,732,363 shares of the business services provider’s stock worth $161,201,000 after acquiring an additional 1,286,629 shares during the period.

Healthcare Services Group Company Profile

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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Earnings History and Estimates for Healthcare Services Group (NASDAQ:HCSG)

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