Brokerages Anticipate Healthcare Services Group, Inc. (NASDAQ:HCSG) Will Announce Quarterly Sales of $418.75 Million

Wall Street analysts expect Healthcare Services Group, Inc. (NASDAQ:HCSG) to announce $418.75 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Healthcare Services Group’s earnings, with estimates ranging from $415.39 million to $420.00 million. Healthcare Services Group posted sales of $423.18 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The firm is expected to report its next quarterly earnings report on Wednesday, February 9th.

On average, analysts expect that Healthcare Services Group will report full year sales of $1.64 billion for the current fiscal year. For the next year, analysts expect that the firm will post sales of $1.73 billion, with estimates ranging from $1.69 billion to $1.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Healthcare Services Group.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, October 19th. The business services provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.13). Healthcare Services Group had a return on equity of 14.73% and a net margin of 4.35%. The company had revenue of $415.60 million for the quarter, compared to the consensus estimate of $410.48 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year.

Several research analysts have issued reports on the company. Zacks Investment Research upgraded Healthcare Services Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 21st. William Blair lowered Healthcare Services Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 20th. TheStreet lowered Healthcare Services Group from a “b-” rating to a “c+” rating in a research report on Wednesday, October 20th. Credit Suisse Group dropped their target price on Healthcare Services Group from $28.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, October 22nd. Finally, Royal Bank of Canada dropped their target price on Healthcare Services Group from $29.00 to $20.00 and set a “sector perform” rating for the company in a research report on Thursday, October 21st. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.33.

Shares of NASDAQ HCSG opened at $18.72 on Friday. The business’s 50 day moving average is $17.85 and its two-hundred day moving average is $23.57. Healthcare Services Group has a 1-year low of $16.25 and a 1-year high of $35.80. The stock has a market capitalization of $1.40 billion, a P/E ratio of 19.50 and a beta of 0.31.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Friday, November 19th were issued a $0.21 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, November 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.49%. Healthcare Services Group’s payout ratio is presently 87.50%.

In related news, Director John Briggs sold 5,001 shares of the business’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was sold at an average price of $18.71, for a total value of $93,568.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in Healthcare Services Group by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 152,403 shares of the business services provider’s stock worth $4,811,000 after buying an additional 509 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Healthcare Services Group by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 52,453 shares of the business services provider’s stock worth $1,311,000 after buying an additional 711 shares in the last quarter. Heritage Wealth Management LLC raised its stake in Healthcare Services Group by 16.9% in the second quarter. Heritage Wealth Management LLC now owns 6,668 shares of the business services provider’s stock worth $211,000 after buying an additional 963 shares in the last quarter. Shufro Rose & Co. LLC raised its stake in Healthcare Services Group by 6.8% in the third quarter. Shufro Rose & Co. LLC now owns 15,610 shares of the business services provider’s stock worth $390,000 after buying an additional 995 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Healthcare Services Group by 1.7% in the second quarter. Parametric Portfolio Associates LLC now owns 60,953 shares of the business services provider’s stock worth $1,924,000 after buying an additional 1,000 shares in the last quarter.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc engages in the provision of keeping, laundry and dietary services to long-term care and related health care facilities. It operates its business through the Housekeeping and Dietary segments. The Housekeeping segment consists of the management of the client’s housekeeping department, which is responsible for the cleaning, disinfecting, and sanitizing of patient rooms and common areas of a client facility, as well as the laundering and processing of the personal clothing belonging to the facility’s patients.

See Also: What is a Roth IRA?

Get a free copy of the Zacks research report on Healthcare Services Group (HCSG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com