Q1 2024 EPS Estimates for Healthcare Services Group, Inc. (NASDAQ:HCSG) Boosted by William Blair

Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) - Stock analysts at William Blair lifted their Q1 2024 earnings estimates for Healthcare Services Group in a report issued on Wednesday, April 24th. William Blair analyst R. Daniels now anticipates that the business services provider will earn $0.22 per share for the quarter, up from their prior forecast of $0.18. The consensus estimate for Healthcare Services Group's current full-year earnings is $0.77 per share. William Blair also issued estimates for Healthcare Services Group's FY2024 earnings at $0.80 EPS, Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.22 EPS.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. The business had revenue of $423.40 million during the quarter, compared to analyst estimates of $424.91 million. Healthcare Services Group had a net margin of 2.44% and a return on equity of 11.44%. The company's revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share.

A number of other research firms have also weighed in on HCSG. Benchmark upped their price target on shares of Healthcare Services Group from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Royal Bank of Canada upped their target price on shares of Healthcare Services Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. UBS Group upped their target price on shares of Healthcare Services Group from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. StockNews.com upgraded shares of Healthcare Services Group from a "sell" rating to a "hold" rating in a research report on Thursday, February 22nd. Finally, Robert W. Baird upped their target price on shares of Healthcare Services Group from $10.00 to $13.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $14.50.

Healthcare Services Group Stock Performance

Shares of HCSG traded down $0.15 during mid-day trading on Friday, reaching $10.85. The stock had a trading volume of 613,410 shares, compared to its average volume of 533,491. The firm has a market cap of $798.99 million, a price-to-earnings ratio of 19.30 and a beta of 0.49. Healthcare Services Group has a 12 month low of $8.75 and a 12 month high of $15.97. The business has a fifty day moving average of $12.20 and a 200 day moving average of $10.73.

Institutional Investors Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in shares of Healthcare Services Group in the first quarter valued at $55,000. PNC Financial Services Group Inc. raised its stake in shares of Healthcare Services Group by 38.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider's stock valued at $64,000 after acquiring an additional 1,714 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Healthcare Services Group in the fourth quarter valued at $921,000. CWM LLC raised its stake in shares of Healthcare Services Group by 173.4% in the third quarter. CWM LLC now owns 10,209 shares of the business services provider's stock valued at $106,000 after acquiring an additional 6,475 shares during the period. Finally, Corton Capital Inc. purchased a new stake in shares of Healthcare Services Group in the third quarter valued at $129,000. Hedge funds and other institutional investors own 97.97% of the company's stock.

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.