Wall Street analysts expect that Healthcare Services Group, Inc. (NASDAQ:HCSG) will post $415.84 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Healthcare Services Group's earnings. The highest sales estimate is $421.40 million and the lowest is $407.50 million. Healthcare Services Group posted sales of $435.95 million during the same quarter last year, which indicates a negative year over year growth rate of 4.6%. The business is expected to report its next quarterly earnings results on Wednesday, October 20th.
On average, analysts expect that Healthcare Services Group will report full year sales of $1.65 billion for the current year, with estimates ranging from $1.63 billion to $1.67 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.76 billion, with estimates ranging from $1.73 billion to $1.77 billion. Zacks' sales averages are an average based on a survey of sell-side research firms that follow Healthcare Services Group.
Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 20th. The business services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.16). The company had revenue of $398.20 million for the quarter, compared to analysts' expectations of $407.24 million. Healthcare Services Group had a return on equity of 21.85% and a net margin of 6.00%. The company's revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS.
Several equities research analysts have issued reports on the company. Royal Bank of Canada dropped their target price on Healthcare Services Group from $30.00 to $29.00 and set a "sector perform" rating on the stock in a research report on Thursday. Stifel Nicolaus began coverage on shares of Healthcare Services Group in a report on Tuesday, June 22nd. They issued a "hold" rating on the stock. Robert W. Baird reaffirmed a "hold" rating on shares of Healthcare Services Group in a report on Monday, April 26th. Finally, Zacks Investment Research raised shares of Healthcare Services Group from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a report on Tuesday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of "Hold" and an average price target of $30.75.
NASDAQ:HCSG opened at $26.90 on Friday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 19.49 and a beta of 0.42. The stock's fifty day moving average is $30.90. Healthcare Services Group has a 1 year low of $20.05 and a 1 year high of $35.80.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Friday, August 20th will be paid a $0.209 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, August 19th. This is a boost from Healthcare Services Group's previous quarterly dividend of $0.21. Healthcare Services Group's dividend payout ratio is currently 62.88%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new position in Healthcare Services Group in the first quarter valued at $28,000. JJJ Advisors Inc. increased its stake in Healthcare Services Group by 38.7% in the first quarter. JJJ Advisors Inc. now owns 1,305 shares of the business services provider's stock valued at $37,000 after acquiring an additional 364 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Healthcare Services Group in the first quarter valued at $43,000. Sageworth Trust Co bought a new position in Healthcare Services Group in the first quarter valued at $94,000. Finally, Eaton Vance Management bought a new position in Healthcare Services Group in the first quarter valued at $147,000.
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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