Healthcare Services Group, Inc. (NASDAQ:HCSG) announced a quarterly dividend on Tuesday, April 17th, RTT News reports. Investors of record on Friday, May 25th will be paid a dividend of 0.1925 per share by the business services provider on Friday, June 29th. This represents a $0.77 annualized dividend and a dividend yield of 1.90%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19.
Healthcare Services Group has raised its dividend by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 10 years. Healthcare Services Group has a payout ratio of 61.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Healthcare Services Group to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 40.9%.
Shares of HCSG traded down $0.04 on Tuesday, hitting $40.60. 1,638,180 shares of the stock traded hands, compared to its average volume of 1,071,505. The company has a market capitalization of $3,108.52, a P/E ratio of 35.75, a price-to-earnings-growth ratio of 2.29 and a beta of 0.79. Healthcare Services Group has a one year low of $38.26 and a one year high of $56.20.
Several equities research analysts recently weighed in on HCSG shares. BidaskClub raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, February 6th. Finally, Robert W. Baird downgraded shares of Healthcare Services Group from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.00.
In related news, Director Robert J. Moss sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $44.50, for a total value of $89,000.00. Following the sale, the director now owns 2,000 shares in the company, valued at $89,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dino D. Ottaviano sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $45.15, for a total transaction of $67,725.00. Following the completion of the sale, the director now owns 2,044 shares in the company, valued at approximately $92,286.60. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
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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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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