StockNews.com Lowers Healthcare Services Group (NASDAQ:HCSG) to Sell

StockNews.com lowered shares of Healthcare Services Group (NASDAQ:HCSGGet Rating) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

HCSG has been the subject of several other reports. Royal Bank of Canada boosted their price objective on Healthcare Services Group from $17.00 to $20.00 and gave the company a sector perform rating in a report on Thursday, April 21st. Credit Suisse Group boosted their price objective on Healthcare Services Group from $17.00 to $18.00 and gave the company a neutral rating in a report on Thursday, April 21st. Finally, Robert W. Baird boosted their price objective on Healthcare Services Group from $17.00 to $23.00 in a report on Thursday, April 21st. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, Healthcare Services Group has an average rating of Hold and a consensus price target of $18.63.

Shares of NASDAQ HCSG opened at $16.61 on Monday. Healthcare Services Group has a 1 year low of $14.75 and a 1 year high of $32.96. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 37.75 and a beta of 0.37. The stock’s 50-day simple moving average is $17.14 and its 200-day simple moving average is $17.23.

Healthcare Services Group (NASDAQ:HCSGGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The business services provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $426.80 million during the quarter, compared to analyst estimates of $424.78 million. Healthcare Services Group had a return on equity of 6.97% and a net margin of 1.96%. Healthcare Services Group’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. On average, research analysts expect that Healthcare Services Group will post 0.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, May 20th will be issued a dividend of $0.2125 per share. The ex-dividend date of this dividend is Thursday, May 19th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a dividend yield of 5.12%. Healthcare Services Group’s dividend payout ratio is 193.19%.

Several large investors have recently bought and sold shares of HCSG. Markel Corp boosted its position in shares of Healthcare Services Group by 6.4% during the first quarter. Markel Corp now owns 1,200,500 shares of the business services provider’s stock worth $22,293,000 after buying an additional 72,000 shares during the period. Bank of America Corp DE boosted its position in shares of Healthcare Services Group by 13.1% during the first quarter. Bank of America Corp DE now owns 463,517 shares of the business services provider’s stock worth $8,607,000 after buying an additional 53,508 shares during the period. Toroso Investments LLC acquired a new position in shares of Healthcare Services Group during the first quarter worth approximately $580,000. Connors Investor Services Inc. boosted its position in shares of Healthcare Services Group by 4.9% during the first quarter. Connors Investor Services Inc. now owns 184,124 shares of the business services provider’s stock worth $3,419,000 after buying an additional 8,520 shares during the period. Finally, Avalon Investment & Advisory acquired a new position in shares of Healthcare Services Group during the first quarter worth approximately $3,630,000.

About Healthcare Services Group (Get Rating)

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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