Connors Investor Services Inc. purchased a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the second quarter, Holdings Channel reports. The firm purchased 79,217 shares of the business services provider’s stock, valued at approximately $2,501,000.
Other large investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in Healthcare Services Group during the 1st quarter valued at $28,000. O Shaughnessy Asset Management LLC bought a new stake in Healthcare Services Group during the 1st quarter valued at $43,000. Bbva USA bought a new stake in Healthcare Services Group during the 2nd quarter valued at $71,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Healthcare Services Group during the 2nd quarter valued at $87,000. Finally, Sageworth Trust Co bought a new stake in Healthcare Services Group during the 1st quarter valued at $94,000.
A number of brokerages have issued reports on HCSG. Royal Bank of Canada reduced their price objective on shares of Healthcare Services Group from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 22nd. Zacks Investment Research downgraded shares of Healthcare Services Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 8th. Finally, Stifel Nicolaus began coverage on shares of Healthcare Services Group in a research report on Tuesday, June 22nd. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.33.
Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, July 20th. The business services provider reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.16). The business had revenue of $398.20 million during the quarter, compared to analysts’ expectations of $407.24 million. Healthcare Services Group had a return on equity of 18.60% and a net margin of 5.38%. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. As a group, analysts expect that Healthcare Services Group, Inc. will post 1.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Friday, August 20th will be given a $0.209 dividend. The ex-dividend date of this dividend is Thursday, August 19th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. Healthcare Services Group’s dividend payout ratio is currently 62.88%.
Healthcare Services Group 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: Hold Rating
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