Benchmark set a $50.00 target price on Healthcare Services Group (NASDAQ:HCSG) in a research note issued to investors on Tuesday morning. The firm currently has a buy rating on the business services provider’s stock.
HCSG has been the subject of several other reports. Stifel Nicolaus reiterated a sell rating on shares of Healthcare Services Group in a research report on Saturday, February 2nd. ValuEngine downgraded Healthcare Services Group from a buy rating to a hold rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded Healthcare Services Group from a sell rating to a hold rating in a research report on Tuesday, January 29th. Finally, BidaskClub downgraded Healthcare Services Group from a buy rating to a hold rating in a research report on Saturday, February 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $45.86.
Get Healthcare Services Group alerts:Healthcare Services Group stock opened at $33.49 on Tuesday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.38 and a beta of 0.89. Healthcare Services Group has a 12 month low of $32.00 and a 12 month high of $48.73.
Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, February 5th. The business services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The firm had revenue of $496.41 million during the quarter, compared to the consensus estimate of $507.45 million. Healthcare Services Group had a return on equity of 20.09% and a net margin of 4.16%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. On average, equities research analysts anticipate that Healthcare Services Group will post 1.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, February 15th will be paid a $0.1963 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, February 14th. This represents a $0.79 annualized dividend and a dividend yield of 2.34%. Healthcare Services Group’s dividend payout ratio is presently 70.54%.
Several hedge funds have recently modified their holdings of HCSG. Bank of New York Mellon Corp increased its stake in shares of Healthcare Services Group by 15.5% in the second quarter. Bank of New York Mellon Corp now owns 1,148,501 shares of the business services provider’s stock valued at $49,606,000 after buying an additional 154,058 shares during the period. FMR LLC acquired a new stake in shares of Healthcare Services Group in the second quarter valued at about $96,315,000. First Trust Advisors LP increased its stake in shares of Healthcare Services Group by 200.9% in the third quarter. First Trust Advisors LP now owns 28,119 shares of the business services provider’s stock valued at $1,142,000 after buying an additional 18,774 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Healthcare Services Group by 11.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 53,560 shares of the business services provider’s stock valued at $2,176,000 after buying an additional 5,623 shares during the period. Finally, Tdam USA Inc. acquired a new stake in shares of Healthcare Services Group in the third quarter valued at about $539,000.
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 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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