Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price fell 9.9% during trading on Thursday . The stock traded as low as $41.13 and last traded at $41.62. 1,964,049 shares changed hands during mid-day trading, an increase of 108% from the average session volume of 942,614 shares. The stock had previously closed at $46.21.
Several research firms have commented on HCSG. Zacks Investment Research upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 29th. ValuEngine upgraded Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Finally, BidaskClub upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.00.
The stock has a market capitalization of $3.41 billion, a PE ratio of 34.84 and a beta of 0.73.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, October 16th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Healthcare Services Group had a return on equity of 17.80% and a net margin of 3.59%. The company had revenue of $506.90 million for the quarter, compared to the consensus estimate of $510.27 million. During the same quarter last year, the business earned $0.31 earnings per share. Healthcare Services Group’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that Healthcare Services Group, Inc. will post 1.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, November 21st. Healthcare Services Group’s dividend payout ratio (DPR) is 65.55%.
In other news, Director Robert J. Moss sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $47.55, for a total transaction of $95,100.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $95,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Moss sold 5,001 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $43.95, for a total value of $219,793.95. Following the transaction, the director now owns 5,001 shares of the company’s stock, valued at $219,793.95. The disclosure for this sale can be found here. Insiders have sold 7,701 shares of company stock valued at $347,780 over the last 90 days. 1.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of HCSG. FMR LLC bought a new position in shares of Healthcare Services Group during the second quarter worth about $96,315,000. Janus Henderson Group PLC increased its holdings in Healthcare Services Group by 52.6% in the second quarter. Janus Henderson Group PLC now owns 3,732,363 shares of the business services provider’s stock worth $161,201,000 after purchasing an additional 1,286,629 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in Healthcare Services Group by 290.8% in the third quarter. Van Berkom & Associates Inc. now owns 1,142,666 shares of the business services provider’s stock worth $46,415,000 after purchasing an additional 850,262 shares in the last quarter. Franklin Resources Inc. increased its holdings in Healthcare Services Group by 413.2% in the third quarter. Franklin Resources Inc. now owns 929,772 shares of the business services provider’s stock worth $37,767,000 after purchasing an additional 748,590 shares in the last quarter. Finally, Waddell & Reed Financial Inc. increased its holdings in Healthcare Services Group by 121.9% in the second quarter. Waddell & Reed Financial Inc. now owns 1,218,984 shares of the business services provider’s stock worth $52,648,000 after purchasing an additional 669,670 shares in the last quarter.
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About Healthcare Services Group (NASDAQ:HCSG)
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.
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