Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives Average Rating of “Hold” from Brokerages

Healthcare Services Group, Inc. (NASDAQ:HCSGGet Rating) has been given a consensus rating of “Hold” by the nine analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.50.

HCSG has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Healthcare Services Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 26th. Jefferies Financial Group downgraded shares of Healthcare Services Group from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $19.00 to $13.50 in a report on Thursday, February 10th. Finally, StockNews.com initiated coverage on shares of Healthcare Services Group in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Healthcare Services Group by 2.0% during the fourth quarter. BlackRock Inc. now owns 11,710,965 shares of the business services provider’s stock valued at $208,336,000 after acquiring an additional 225,363 shares during the last quarter. Marathon Asset Mgmt Ltd bought a new position in Healthcare Services Group during the fourth quarter valued at approximately $58,151,000. Allspring Global Investments Holdings LLC bought a new position in Healthcare Services Group during the fourth quarter valued at approximately $51,532,000. State Street Corp grew its position in Healthcare Services Group by 4.7% during the fourth quarter. State Street Corp now owns 2,638,182 shares of the business services provider’s stock valued at $46,933,000 after acquiring an additional 119,357 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Healthcare Services Group by 15.0% during the fourth quarter. American Century Companies Inc. now owns 1,777,284 shares of the business services provider’s stock valued at $31,618,000 after acquiring an additional 232,274 shares during the last quarter.

NASDAQ HCSG traded up $0.01 during trading on Monday, hitting $17.11. 882,124 shares of the company’s stock traded hands, compared to its average volume of 1,054,884. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 27.60 and a beta of 0.35. Healthcare Services Group has a 12-month low of $14.75 and a 12-month high of $32.96. The business has a 50 day moving average of $17.10 and a 200-day moving average of $18.56.

Healthcare Services Group (NASDAQ:HCSGGet Rating) last announced its quarterly earnings results on Wednesday, February 9th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Healthcare Services Group had a return on equity of 9.58% and a net margin of 2.79%. The firm had revenue of $420.45 million during the quarter, compared to analysts’ expectations of $419.01 million. On average, research analysts expect that Healthcare Services Group will post 0.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, February 25th were paid a $0.2113 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Thursday, February 24th. Healthcare Services Group’s dividend payout ratio (DPR) is currently 137.10%.

About Healthcare Services Group (Get Rating)

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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