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. The Housekeeping segment engages in the cleaning, disinfecting, and sanitizing of resident rooms and common areas of the client's facility, as well as laundering and processing of the bed linens, uniforms, resident personal clothing, and other assorted linen items utilized at a client's facility. The Dietary segment provides food purchasing, meal preparation, and professional dietitian services, which include the development of menus that meet the dietary needs of residents. This segment also offers on-site management and clinical consulting services to facilities. As of December 31, 2021, the company provided its services to approximately 3,000 facilities. Healthcare Services Group, Inc. was incorporated in 1976 and is based in Bensalem, Pennsylvania.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of Healthcare Services Group to $15.00 in a research note on Friday, July 22nd. Royal Bank of Canada increased their price objective on shares of Healthcare Services Group from $17.00 to $20.00 and gave the company a "sector perform" rating in a report on Thursday, April 21st. Robert W. Baird cut their price objective on shares of Healthcare Services Group from $23.00 to $15.00 in a report on Thursday, July 21st. Finally, StockNews.com raised shares of Healthcare Services Group from a "sell" rating to a "hold" rating in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $15.88.
Healthcare Services Group Trading Down 0.4 %
Healthcare Services Group stock opened at $13.96 on Monday. The company has a market cap of $1.03 billion, a P/E ratio of 34.90 and a beta of 0.22. Healthcare Services Group has a 1-year low of $13.66 and a 1-year high of $28.68. The company has a fifty day simple moving average of $16.48 and a 200 day simple moving average of $16.95.
Healthcare Services Group (NASDAQ:HCSG - Get Rating) last released its earnings results on Wednesday, July 20th. The business services provider reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). The business had revenue of $424.90 million during the quarter, compared to the consensus estimate of $427.22 million. Healthcare Services Group had a net margin of 1.77% and a return on equity of 6.56%. The firm's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, equities research analysts forecast that Healthcare Services Group will post 0.44 EPS for the current year.
Healthcare Services Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 19th will be paid a dividend of $0.2138 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Thursday, August 18th. This is a boost from Healthcare Services Group's previous quarterly dividend of $0.21. Healthcare Services Group's dividend payout ratio (DPR) is currently 212.50%.