Healthcare Services Group (NASDAQ:HCSG) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Healthcare Services Group (NASDAQ:HCSG) issued its quarterly earnings results on Wednesday. The business services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04, Briefing.com reports. The business had revenue of $423.40 million for the quarter, compared to the consensus estimate of $424.91 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 10.81%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS.

Healthcare Services Group Stock Performance

NASDAQ HCSG traded down $0.10 during trading hours on Thursday, reaching $11.12. 92,638 shares of the company’s stock were exchanged, compared to its average volume of 527,318. The company’s 50-day moving average is $12.23 and its two-hundred day moving average is $10.72. Healthcare Services Group has a one year low of $8.75 and a one year high of $15.97. The company has a market capitalization of $818.88 million, a price-to-earnings ratio of 21.13 and a beta of 0.49.

Analysts Set New Price Targets

A number of research firms have issued reports on HCSG. Royal Bank of Canada upped their target price on shares of Healthcare Services Group from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Robert W. Baird upped their target price on shares of Healthcare Services Group from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. StockNews.com upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Benchmark upped their target price on shares of Healthcare Services Group from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, UBS Group increased their price target on shares of Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.50.

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.