Healthcare Services Group (NASDAQ:HCSG) Cut to Sell at StockNews.com

StockNews.com cut shares of Healthcare Services Group (NASDAQ:HCSG – Get Rating) from a hold rating to a sell rating in a research report released on Monday.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada boosted their target price on Healthcare Services Group from $17.00 to $20.00 and gave the company a sector perform rating in a research note on Thursday, April 21st. Credit Suisse Group boosted their target price on Healthcare Services Group from $17.00 to $18.00 and gave the company a neutral rating in a research note on Thursday, April 21st. Finally, Robert W. Baird boosted their target price on Healthcare Services Group from $17.00 to $23.00 in a research note on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Healthcare Services Group presently has a consensus rating of Hold and an average price target of $18.63.

Shares of HCSG opened at $16.59 on Monday. The stock has a 50 day simple moving average of $17.13 and a 200 day simple moving average of $17.23. Healthcare Services Group has a 52-week low of $14.75 and a 52-week high of $32.95. The firm has a market capitalization of $1.23 billion, a PE ratio of 37.71 and a beta of 0.37.

Healthcare Services Group (NASDAQ:HCSG – Get Rating) last released its earnings results on Wednesday, April 20th. The business services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $426.80 million for the quarter, compared to analysts’ expectations of $424.78 million. Healthcare Services Group had a return on equity of 6.97% and a net margin of 1.96%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. As a group, research analysts anticipate that Healthcare Services Group will post 0.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, May 20th will be paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 5.12%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.21. Healthcare Services Group’s dividend payout ratio is currently 193.19%.

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Healthcare Services Group by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,774 shares of the business services provider’s stock worth $312,000 after purchasing an additional 725 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Healthcare Services Group by 7.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,992 shares of the business services provider’s stock worth $204,000 after acquiring an additional 782 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Healthcare Services Group by 6.8% during the 1st quarter. Teacher Retirement System of Texas now owns 15,365 shares of the business services provider’s stock worth $285,000 after acquiring an additional 977 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Healthcare Services Group by 6.8% during the 1st quarter. National Bank of Canada FI now owns 17,759 shares of the business services provider’s stock worth $329,000 after acquiring an additional 1,137 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Healthcare Services Group by 275.0% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,560 shares of the business services provider’s stock worth $39,000 after acquiring an additional 1,144 shares during the last quarter.

Healthcare Services Group Company Profile (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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