Healthcare Services Group (NASDAQ:HCSG) Cut to Sell at ValuEngine

ValuEngine downgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a sell rating in a research report report published on Saturday morning, ValuEngine reports.

A number of other analysts have also recently weighed in on HCSG. BidaskClub raised shares of Healthcare Services Group from a sell rating to a hold rating in a research note on Friday, April 5th. Jefferies Financial Group set a $48.00 price target on shares of Healthcare Services Group and gave the stock a buy rating in a report on Friday, April 12th. TheStreet lowered shares of Healthcare Services Group from a b- rating to a c+ rating in a report on Friday, March 15th. Robert W. Baird cut their price target on shares of Healthcare Services Group from $39.00 to $33.00 and set a neutral rating on the stock in a report on Tuesday, March 19th. Finally, Stephens set a $42.00 price target on shares of Healthcare Services Group and gave the stock a buy rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $41.33.

NASDAQ HCSG opened at $29.70 on Friday. The business’s fifty day moving average is $32.72. The company has a market capitalization of $2.24 billion, a PE ratio of 26.52, a PEG ratio of 2.22 and a beta of 0.83. Healthcare Services Group has a fifty-two week low of $28.24 and a fifty-two week high of $48.73.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, April 30th. The business services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.24). The company had revenue of $476.11 million for the quarter, compared to the consensus estimate of $489.64 million. Healthcare Services Group had a return on equity of 21.65% and a net margin of 4.67%. The firm’s revenue was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that Healthcare Services Group will post 1.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 24th will be issued a $0.1975 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.79 annualized dividend and a yield of 2.66%. Healthcare Services Group’s payout ratio is presently 70.54%.

In related news, Director Robert L. Frome sold 7,502 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $32.64, for a total value of $244,865.28. Following the transaction, the director now owns 18,407 shares in the company, valued at $600,804.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in HCSG. Oregon Public Employees Retirement Fund lifted its holdings in Healthcare Services Group by 3,976.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,186,395 shares of the business services provider’s stock valued at $30,000 after buying an additional 1,157,289 shares during the period. First Trust Advisors LP acquired a new position in Healthcare Services Group in the first quarter valued at $29,635,000. Norges Bank acquired a new position in Healthcare Services Group in the fourth quarter valued at $26,517,000. Giverny Capital Inc. lifted its holdings in Healthcare Services Group by 3,000.9% in the first quarter. Giverny Capital Inc. now owns 287,334 shares of the business services provider’s stock valued at $9,479,000 after buying an additional 278,068 shares during the period. Finally, BlackRock Inc. lifted its holdings in Healthcare Services Group by 3.0% in the fourth quarter. BlackRock Inc. now owns 8,497,753 shares of the business services provider’s stock valued at $341,439,000 after buying an additional 248,258 shares during the period.

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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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Analyst Recommendations for Healthcare Services Group (NASDAQ:HCSG)

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