Healthcare Services Group, Inc. (HCSG) Given Outperform Rating at Credit Suisse Group

Credit Suisse Group reaffirmed their outperform rating on shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in a research note published on Thursday, July 13th, The Fly reports. The firm currently has a $56.00 price target on the business services provider’s stock, up from their previous price target of $50.00.

A number of other equities research analysts have also issued reports on the company. Jefferies Group LLC reissued a hold rating and issued a $49.00 target price (up previously from $41.00) on shares of Healthcare Services Group in a research report on Tuesday, June 6th. Stifel Nicolaus raised their price target on Healthcare Services Group from $46.00 to $48.00 and gave the company a buy rating in a research note on Monday, May 1st. Finally, Robert W. Baird raised their price target on Healthcare Services Group from $47.00 to $52.00 and gave the company an outperform rating in a research note on Wednesday, July 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Healthcare Services Group presently has a consensus rating of Buy and a consensus price target of $53.00.

Healthcare Services Group (NASDAQ:HCSG) opened at 51.76 on Thursday. The stock has a market cap of $3.79 billion, a P/E ratio of 45.40 and a beta of 0.61. Healthcare Services Group has a one year low of $34.83 and a one year high of $54.28. The stock has a 50 day moving average of $49.91 and a 200-day moving average of $45.23.

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, beating the Zacks’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The business had revenue of $470.90 million for the quarter, compared to analyst estimates of $425.24 million. During the same quarter last year, the firm earned $0.26 EPS. Healthcare Services Group’s revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts anticipate that Healthcare Services Group will post $1.25 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be issued a $0.1888 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 1.46%. Healthcare Services Group’s payout ratio is currently 65.22%.

In other Healthcare Services Group news, CFO John Christopher Shea sold 4,750 shares of Healthcare Services Group stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $52.00, for a total value of $247,000.00. Following the completion of the transaction, the chief financial officer now directly owns 7,157 shares of the company’s stock, valued at approximately $372,164. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Frome sold 7,485 shares of the business’s stock in a transaction on 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 approximately $1,785,342. The disclosure for this sale can be found here. Insiders sold a total of 163,136 shares of company stock valued at $7,718,704 over the last ninety days. Insiders own 4.30% of the company’s stock.

A number of large investors have recently modified their holdings of HCSG. BlackRock Inc. raised its stake 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. Norges Bank purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth $22,959,000. Vanguard Group Inc. raised its stake 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. Massachusetts Financial Services Co. MA raised its stake in shares of Healthcare Services Group by 25.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 979,394 shares of the business services provider’s stock worth $42,202,000 after buying an additional 199,082 shares in the last quarter. Finally, Geneva Advisors LLC raised its stake in shares of Healthcare Services Group by 734.2% in the second quarter. Geneva Advisors LLC now owns 191,918 shares of the business services provider’s stock worth $8,988,000 after buying an additional 168,911 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

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.

The Fly

Analyst Recommendations for Healthcare Services Group (NASDAQ:HCSG)

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