Healthcare Services Group (NASDAQ:HCSG) Announces Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Healthcare Services Group (NASDAQ:HCSG) released its quarterly earnings results on Tuesday. The business services provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.16), MarketWatch Earnings reports. Healthcare Services Group had a net margin of 6.00% and a return on equity of 21.85%. The company had revenue of $398.20 million for the quarter, compared to analysts’ expectations of $407.24 million. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s quarterly revenue was down 11.9% on a year-over-year basis.

Shares of NASDAQ:HCSG traded down $0.03 during trading on Thursday, hitting $26.89. The stock had a trading volume of 40,403 shares, compared to its average volume of 569,681. Healthcare Services Group has a 12-month low of $20.05 and a 12-month high of $35.80. The firm has a market capitalization of $2.01 billion, a PE ratio of 19.51 and a beta of 0.42. The business’s 50-day moving average price is $30.97.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Friday, August 20th will be paid a $0.209 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.11%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, August 19th. Healthcare Services Group’s dividend payout ratio (DPR) is presently 62.88%.

HCSG has been the topic of a number of recent analyst reports. Robert W. Baird reiterated a “hold” rating on shares of Healthcare Services Group in a research note on Monday, April 26th. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday. Stifel Nicolaus initiated coverage on Healthcare Services Group in a research note on Tuesday, June 22nd. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reduced their target price on Healthcare Services Group from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Healthcare Services Group has a consensus rating of “Hold” and a consensus target price of $31.20.

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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Earnings History for Healthcare Services Group (NASDAQ:HCSG)

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