Zacks: Brokerages Expect Healthcare Services Group, Inc. (NASDAQ:HCSG) Will Announce Quarterly Sales of $444.76 Million

Equities analysts expect Healthcare Services Group, Inc. (NASDAQ:HCSG) to post sales of $444.76 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Healthcare Services Group’s earnings. The lowest sales estimate is $443.00 million and the highest is $447.60 million. Healthcare Services Group posted sales of $496.41 million during the same quarter last year, which suggests a negative year over year growth rate of 10.4%. The firm is expected to report its next earnings results on Tuesday, February 4th.

According to Zacks, analysts expect that Healthcare Services Group will report full-year sales of $1.84 billion for the current year. For the next fiscal year, analysts forecast that the firm will post sales of $1.83 billion, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Healthcare Services Group had a net margin of 4.09% and a return on equity of 17.28%. The firm had revenue of $455.60 million for the quarter, compared to analyst estimates of $451.31 million. During the same period in the prior year, the company posted $0.35 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis.

A number of brokerages have recently commented on HCSG. ValuEngine raised Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Royal Bank of Canada started coverage on Healthcare Services Group in a research note on Wednesday, November 27th. They issued a “sector perform” rating and a $26.00 price objective for the company. Credit Suisse Group reissued a “buy” rating and issued a $32.00 price objective on shares of Healthcare Services Group in a research note on Thursday, October 24th. Finally, Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Healthcare Services Group currently has a consensus rating of “Hold” and a consensus price target of $34.57.

Several institutional investors and hedge funds have recently bought and sold shares of HCSG. Arlington Partners LLC purchased a new stake in shares of Healthcare Services Group during the 4th quarter worth about $46,000. Quadrant Capital Group LLC raised its stake in shares of Healthcare Services Group by 6,935.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,392 shares of the business services provider’s stock worth $57,000 after purchasing an additional 2,358 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Healthcare Services Group during the 2nd quarter worth about $71,000. NEXT Financial Group Inc raised its stake in shares of Healthcare Services Group by 15.3% during the 3rd quarter. NEXT Financial Group Inc now owns 3,347 shares of the business services provider’s stock worth $81,000 after purchasing an additional 444 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new stake in shares of Healthcare Services Group during the 3rd quarter worth about $88,000.

NASDAQ HCSG traded down $0.15 during trading hours on Tuesday, hitting $27.01. The company had a trading volume of 430,540 shares, compared to its average volume of 483,381. Healthcare Services Group has a fifty-two week low of $21.16 and a fifty-two week high of $44.76. The business has a fifty day simple moving average of $25.05 and a 200-day simple moving average of $25.08. The firm has a market cap of $2.01 billion, a P/E ratio of 26.22 and a beta of 0.73.

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.20. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.96%. Healthcare Services Group’s dividend payout ratio (DPR) is 71.43%.

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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