Healthcare Services Group (NASDAQ:HCSG) Shares Down 4.2%

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) fell 4.2% on Tuesday . The stock traded as low as $23.17 and last traded at $23.20. 25,776 shares traded hands during trading, a decline of 96% from the average session volume of 656,811 shares. The stock had previously closed at $24.21.

Several research firms have weighed in on HCSG. Royal Bank of Canada lowered their price objective on Healthcare Services Group from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 22nd. Zacks Investment Research upgraded Healthcare Services Group from a “strong sell” rating to a “hold” rating in a research report on Friday, September 24th. Finally, Stifel Nicolaus began coverage on Healthcare Services Group in a research report on Tuesday, June 22nd. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.33.

The company has a market cap of $1.74 billion, a P/E ratio of 19.48 and a beta of 0.43. The stock has a 50-day moving average of $25.69 and a 200 day moving average of $28.45.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Tuesday, July 20th. The business services provider reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.16). Healthcare Services Group had a return on equity of 18.60% and a net margin of 5.38%. The company had revenue of $398.20 million during the quarter, compared to the consensus estimate of $407.24 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts forecast that Healthcare Services Group, Inc. will post 1.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 24th. Shareholders of record on Friday, August 20th were given a $0.209 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, August 19th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.21. Healthcare Services Group’s payout ratio is currently 62.88%.

A number of institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in Healthcare Services Group by 1.9% in the first quarter. Thrivent Financial for Lutherans now owns 19,863 shares of the business services provider’s stock valued at $557,000 after acquiring an additional 378 shares during the last quarter. We Are One Seven LLC grew its position in Healthcare Services Group by 4.4% in the second quarter. We Are One Seven LLC now owns 9,449 shares of the business services provider’s stock valued at $298,000 after acquiring an additional 394 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Healthcare Services Group by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 152,403 shares of the business services provider’s stock valued at $4,811,000 after acquiring an additional 509 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Healthcare Services Group by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 25,367 shares of the business services provider’s stock valued at $801,000 after acquiring an additional 629 shares during the last quarter. Finally, Equitable Trust Co. grew its position in Healthcare Services Group by 9.6% in the second quarter. Equitable Trust Co. now owns 8,687 shares of the business services provider’s stock valued at $274,000 after acquiring an additional 763 shares during the last quarter.

Healthcare Services Group Company Profile (NASDAQ:HCSG)

Healthcare Services Group, Inc engages in the provision of keeping, laundry and dietary services to long-term care and related health care facilities. It operates its business through the Housekeeping and Dietary segments. The Housekeeping segment consists of the management of the client’s housekeeping department, which is responsible for the cleaning, disinfecting, and sanitizing of patient rooms and common areas of a client facility, as well as the laundering and processing of the personal clothing belonging to the facility’s patients.

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