Healthcare Services Group, Inc. (NASDAQ:HCSG) Raises Dividend to $0.20 Per Share

Healthcare Services Group, Inc. (NASDAQ:HCSG) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.20 per share by the business services provider on Friday, December 27th. This represents a $0.80 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, November 21st. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.20.

HCSG stock traded down $0.30 during midday trading on Tuesday, hitting $24.68. The stock had a trading volume of 4,368 shares, compared to its average volume of 670,432. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 22.04 and a beta of 0.73. Healthcare Services Group has a 52 week low of $21.16 and a 52 week high of $48.73. The stock has a 50-day simple moving average of $24.71 and a 200 day simple moving average of $27.36.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $455.60 million during the quarter, compared to the consensus estimate of $451.31 million. Healthcare Services Group had a return on equity of 17.28% and a net margin of 4.09%. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. Equities analysts forecast that Healthcare Services Group will post 0.86 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on HCSG. Zacks Investment Research lowered Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Sidoti lowered their target price on Healthcare Services Group from $51.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. ValuEngine upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Benchmark reiterated a “buy” rating and issued a $34.00 price objective (down from $37.00) on shares of Healthcare Services Group in a research report on Wednesday, October 23rd. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Healthcare Services Group in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.00.

In related news, Director Robert L. Frome sold 8,500 shares of Healthcare Services Group stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $24.06, for a total value of $204,510.00. Following the sale, the director now owns 9,907 shares of the company’s stock, valued at approximately $238,362.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

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 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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Dividend History for Healthcare Services Group (NASDAQ:HCSG)

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