Healthcare Services Group, Inc. (NASDAQ:HCSG) Expected to Post Quarterly Sales of $451.32 Million

Equities analysts predict that Healthcare Services Group, Inc. (NASDAQ:HCSG) will post sales of $451.32 million for the current quarter, according to Zacks. 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 in the same quarter last year, which indicates a negative year over year growth rate of 11%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 15th.

On average, analysts expect that Healthcare Services Group will report full year sales of $1.84 billion for the current year, with estimates ranging from $1.84 billion to $1.85 billion. For the next financial year, analysts forecast that the business will post sales of $1.89 billion, with estimates ranging from $1.84 billion to $1.93 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.11). The business had revenue of $462.10 million for the quarter, compared to analyst estimates of $477.68 million. Healthcare Services Group had a net margin of 4.38% and a return on equity of 19.40%. The firm’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share.

Several analysts have recently weighed in on the company. Sidoti lowered their target price on Healthcare Services Group from $51.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Credit Suisse Group lowered their target price on Healthcare Services Group from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. ValuEngine downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 22nd. Jefferies Financial Group restated a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Healthcare Services Group in a research note on Friday, July 12th. Finally, Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.29.

In other news, Director Robert L. Frome sold 7,502 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $32.64, for a total transaction of $244,865.28. Following the transaction, the director now owns 18,407 shares of the company’s stock, valued at $600,804.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of HCSG. Financial Gravity Wealth Inc. lifted its holdings in Healthcare Services Group by 1,148.6% in the second quarter. Financial Gravity Wealth Inc. now owns 899 shares of the business services provider’s stock worth $27,000 after acquiring an additional 827 shares during the last quarter. Tompkins Financial Corp bought a new position in Healthcare Services Group in the second quarter worth about $30,000. Huntington National Bank lifted its holdings in Healthcare Services Group by 88.8% in the second quarter. Huntington National Bank now owns 1,210 shares of the business services provider’s stock worth $37,000 after acquiring an additional 569 shares during the last quarter. Icon Wealth Partners LLC bought a new position in Healthcare Services Group in the first quarter worth about $45,000. Finally, Point72 Hong Kong Ltd bought a new position in Healthcare Services Group in the second quarter worth about $71,000.

Shares of Healthcare Services Group stock traded down $0.71 during trading hours on Thursday, hitting $21.87. 518,971 shares of the company’s stock traded hands, compared to its average volume of 956,608. The stock has a 50 day simple moving average of $27.35 and a 200-day simple moving average of $32.68. The company has a market cap of $1.67 billion, a PE ratio of 19.53 and a beta of 0.71. Healthcare Services Group has a twelve month low of $21.79 and a twelve month high of $48.73.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.199 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 22nd. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. Healthcare Services Group’s dividend payout ratio (DPR) is presently 70.54%.

Healthcare Services Group Company Profile

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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Earnings History and Estimates for Healthcare Services Group (NASDAQ:HCSG)

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