Analysts predict that Healthcare Services Group, Inc. (NASDAQ:HCSG) will announce $451.32 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Healthcare Services Group’s earnings. The lowest sales estimate is $450.15 million and the highest is $452.80 million. Healthcare Services Group reported sales of $506.87 million during the same quarter last year, which indicates a negative year-over-year growth rate of 11%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 15th.
On average, analysts expect that Healthcare Services Group will report full-year sales of $1.84 billion for the current financial year, with estimates ranging from $1.84 billion to $1.85 billion. For the next year, analysts forecast that the firm will report sales of $1.89 billion, with estimates ranging from $1.84 billion to $1.93 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Healthcare Services Group.
Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.11). Healthcare Services Group had a net margin of 4.38% and a return on equity of 19.40%. The company had revenue of $462.10 million for the quarter, compared to the consensus estimate of $477.68 million. During the same quarter in the prior year, the company posted $0.35 EPS. Healthcare Services Group’s revenue was down 7.9% on a year-over-year basis.
Several research analysts recently commented on the company. Zacks Investment Research cut Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. BidaskClub lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a report on Thursday, June 27th. ValuEngine lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Saturday, June 22nd. Finally, Credit Suisse Group decreased their price objective on shares of Healthcare Services Group from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $39.29.
Shares of NASDAQ:HCSG traded down $0.71 during trading on Thursday, hitting $21.87. The company’s stock had a trading volume of 518,971 shares, compared to its average volume of 956,608. The company has a 50-day moving average of $27.35 and a 200-day moving average of $32.68. Healthcare Services Group has a 12 month low of $21.79 and a 12 month high of $48.73. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 19.53 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 23rd will be issued a $0.199 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.64%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 22nd. Healthcare Services Group’s payout ratio is presently 70.54%.
In related news, Director Robert L. Frome sold 7,502 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $32.64, for a total transaction of $244,865.28. Following the completion of the sale, the director now directly owns 18,407 shares in the company, valued at approximately $600,804.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP boosted its stake in shares of Healthcare Services Group by 10.1% during the 4th quarter. Two Sigma Advisers LP now owns 32,848 shares of the business services provider’s stock worth $1,320,000 after acquiring an additional 3,000 shares in the last quarter. Legal & General Group Plc lifted its stake in Healthcare Services Group by 5.9% during the fourth quarter. Legal & General Group Plc now owns 78,598 shares of the business services provider’s stock worth $3,158,000 after purchasing an additional 4,398 shares during the period. Millennium Management LLC lifted its stake in Healthcare Services Group by 264.3% during the fourth quarter. Millennium Management LLC now owns 59,617 shares of the business services provider’s stock worth $2,395,000 after purchasing an additional 43,252 shares during the period. Amalgamated Bank lifted its stake in Healthcare Services Group by 128.3% during the fourth quarter. Amalgamated Bank now owns 11,641 shares of the business services provider’s stock worth $468,000 after purchasing an additional 6,542 shares during the period. Finally, Norges Bank bought a new position in Healthcare Services Group during the fourth quarter worth about $26,517,000.
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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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