Healthcare Services Group (NASDAQ:HCSG) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a sell rating to a hold rating in a report published on Friday, January 26th.

Several other research analysts also recently issued reports on the company. Credit Suisse Group reaffirmed an outperform rating and issued a $62.00 price objective (up previously from $56.00) on shares of Healthcare Services Group in a research note on Friday, November 3rd. Zacks Investment Research downgraded Healthcare Services Group from a buy rating to a hold rating in a research note on Friday, October 20th. Stifel Nicolaus reissued a buy rating on shares of Healthcare Services Group in a research report on Thursday, October 19th. Jefferies Group set a $52.00 target price on shares of Healthcare Services Group and gave the company a hold rating in a research report on Thursday, October 19th. Finally, Robert W. Baird reissued a buy rating and set a $52.00 target price on shares of Healthcare Services Group in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Healthcare Services Group has a consensus rating of Hold and an average target price of $55.20.

Shares of Healthcare Services Group (NASDAQ:HCSG) opened at $47.94 on Friday. Healthcare Services Group has a 52-week low of $40.46 and a 52-week high of $56.20. The firm has a market cap of $3,510.00, a PE ratio of 40.29, a P/E/G ratio of 2.61 and a beta of 0.62.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, February 6th. The business services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). The company had revenue of $499.41 million during the quarter, compared to the consensus estimate of $499.37 million. Healthcare Services Group had a return on equity of 23.17% and a net margin of 4.73%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company posted $0.28 EPS. equities analysts predict that Healthcare Services Group will post 1.67 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, February 16th will be given a dividend of $0.1913 per share. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, February 15th. This represents a $0.77 annualized dividend and a dividend yield of 1.60%. Healthcare Services Group’s dividend payout ratio (DPR) is 63.87%.

Several hedge funds have recently made changes to their positions in HCSG. Eaton Vance Management bought a new position in shares of Healthcare Services Group in the 2nd quarter worth $243,000. Riverhead Capital Management LLC lifted its holdings in shares of Healthcare Services Group by 69.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock worth $190,000 after purchasing an additional 1,659 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Healthcare Services Group by 6.0% in the 2nd quarter. Teachers Advisors LLC now owns 128,920 shares of the business services provider’s stock worth $6,037,000 after purchasing an additional 7,347 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Healthcare Services Group by 1.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 192,535 shares of the business services provider’s stock worth $9,016,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Healthcare Services Group by 5.5% in the 2nd quarter. Amalgamated Bank now owns 9,846 shares of the business services provider’s stock worth $461,000 after purchasing an additional 517 shares in the last quarter. 92.93% of the stock is owned by institutional investors.

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About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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