Analysts Anticipate Healthcare Services Group, Inc. (HCSG) Will Post Quarterly Sales of $492.06 Million

Wall Street brokerages predict that Healthcare Services Group, Inc. (NASDAQ:HCSG) will announce sales of $492.06 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Healthcare Services Group’s earnings, with estimates ranging from $481.96 million to $510.90 million. Healthcare Services Group reported sales of $392.73 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.3%. The business is expected to report its next quarterly earnings results on Tuesday, October 10th.

According to Zacks, analysts expect that Healthcare Services Group will report full year sales of $492.06 million for the current fiscal year, with estimates ranging from $1.85 billion to $1.91 billion. For the next fiscal year, analysts expect that the company will post sales of $2.09 billion per share, with estimates ranging from $2.04 billion to $2.17 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The business had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $425.24 million. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share.

Several research analysts recently issued reports on the company. Zacks Investment Research raised Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, July 14th. BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Robert W. Baird upped their target price on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and set a $56.00 target price (up from $50.00) on shares of Healthcare Services Group in a research report on Thursday, July 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price (up from $48.00) on shares of Healthcare Services Group in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.00.

In other news, Director Robert L. Frome sold 7,485 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $47.00, for a total value of $351,795.00. Following the transaction, the director now directly owns 37,986 shares of the company’s stock, valued at $1,785,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel P. Mccartney sold 113,901 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $45.87, for a total value of $5,224,638.87. The disclosure for this sale can be found here. Insiders sold 135,886 shares of company stock worth $6,305,754 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HCSG. BlackRock Inc. raised its position in shares of Healthcare Services Group by 145,799.8% in the first quarter. BlackRock Inc. now owns 8,780,248 shares of the business services provider’s stock worth $378,341,000 after buying an additional 8,774,230 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Healthcare Services Group by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,832,778 shares of the business services provider’s stock worth $294,424,000 after buying an additional 418,676 shares in the last quarter. State Street Corp raised its position in shares of Healthcare Services Group by 8.5% in the first quarter. State Street Corp now owns 1,680,479 shares of the business services provider’s stock worth $72,412,000 after buying an additional 131,987 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Healthcare Services Group by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 1,139,255 shares of the business services provider’s stock worth $49,090,000 after buying an additional 31,427 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Healthcare Services Group by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,138,378 shares of the business services provider’s stock worth $49,053,000 after buying an additional 3,898 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Healthcare Services Group (HCSG) traded down 0.06% on Friday, reaching $52.22. The company’s stock had a trading volume of 231,812 shares. Healthcare Services Group has a 12-month low of $34.83 and a 12-month high of $54.28. The stock has a market cap of $3.82 billion, a PE ratio of 45.81 and a beta of 0.60. The firm has a 50 day moving average price of $49.48 and a 200-day moving average price of $45.01.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be issued a $0.1888 dividend. The ex-dividend date is Wednesday, August 16th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. Healthcare Services Group’s dividend payout ratio is currently 65.22%.

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 the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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

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