Healthcare Services Group, Inc. (NASDAQ:HCSG) announced a quarterly dividend on Tuesday, April 17th, RTT News reports. Investors of record on Friday, May 25th will be paid a dividend of 0.1925 per share by the business services provider on Friday, June 29th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 24th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19.
Healthcare Services Group has raised its dividend by an average of 2.8% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Healthcare Services Group has a payout ratio of 61.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Healthcare Services Group to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 41.8%.
Shares of Healthcare Services Group opened at $37.08 on Friday, Marketbeat Ratings reports. The stock has a market cap of $2.73 billion, a P/E ratio of 42.06, a PEG ratio of 2.24 and a beta of 0.84. Healthcare Services Group has a 12-month low of $35.04 and a 12-month high of $56.20.
Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, April 17th. The business services provider reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.38). The firm had revenue of $501.81 million for the quarter, compared to analyst estimates of $505.44 million. Healthcare Services Group had a return on equity of 16.99% and a net margin of 3.38%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. analysts expect that Healthcare Services Group will post 1.5 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. BidaskClub cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Stifel Nicolaus cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $44.00 in a research report on Wednesday, April 18th. Zacks Investment Research cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 19th. Finally, Robert W. Baird cut shares of Healthcare Services Group from an “outperform” rating to a “neutral” rating and set a $52.00 target price for the company. in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.60.
In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,500 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $45.15, for a total transaction of $67,725.00. Following the sale, the director now owns 2,044 shares of the company’s stock, valued at approximately $92,286.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Moss sold 2,000 shares of the stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $44.50, for a total transaction of $89,000.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at approximately $89,000. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
Receive News & Ratings for Healthcare Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Healthcare Services Group and related companies with MarketBeat.com's FREE daily email newsletter.