Wall Street brokerages expect Healthcare Services Group, Inc. (NASDAQ:HCSG) to report sales of $451.32 million for the current quarter, Zacks reports. Four analysts have made estimates for Healthcare Services Group’s earnings, with estimates ranging from $450.15 million to $452.80 million. Healthcare Services Group reported sales of $506.87 million during the same quarter last year, which indicates a negative year over year growth rate of 11%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 15th.
According to Zacks, analysts expect that Healthcare Services Group will report full year sales of $1.84 billion for the current year, with estimates ranging from $1.84 billion to $1.85 billion. For the next year, analysts anticipate that the business will report sales of $1.89 billion, with estimates ranging from $1.84 billion to $1.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Healthcare Services Group.
Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.11). Healthcare Services Group had a net margin of 4.38% and a return on equity of 19.40%. The firm had revenue of $462.10 million during the quarter, compared to analysts’ expectations of $477.68 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis.
HCSG traded down $0.71 on Thursday, hitting $21.87. 518,971 shares of the company traded hands, compared to its average volume of 956,608. The company has a 50 day moving average of $27.35 and a 200-day moving average of $32.68. The stock has a market capitalization of $1.67 billion, a PE ratio of 19.53 and a beta of 0.71. Healthcare Services Group has a 12-month low of $21.79 and a 12-month high of $48.73.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.199 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.80 annualized dividend and a yield of 3.64%. Healthcare Services Group’s payout ratio is presently 70.54%.
In other Healthcare Services Group news, Director Robert L. Frome sold 7,502 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $32.64, for a total transaction of $244,865.28. Following the transaction, the director now owns 18,407 shares in the company, valued at approximately $600,804.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Gravity Wealth Inc. grew its holdings in shares of Healthcare Services Group by 1,148.6% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 899 shares of the business services provider’s stock worth $27,000 after acquiring an additional 827 shares during the period. Tompkins Financial Corp acquired a new stake in shares of Healthcare Services Group in the 2nd quarter worth approximately $30,000. Huntington National Bank grew its holdings in shares of Healthcare Services Group by 88.8% in the 2nd quarter. Huntington National Bank now owns 1,210 shares of the business services provider’s stock worth $37,000 after acquiring an additional 569 shares during the period. Icon Wealth Partners LLC acquired a new stake in shares of Healthcare Services Group in the 1st quarter worth approximately $45,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Healthcare Services Group in the 2nd quarter worth approximately $71,000.
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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