Healthcare Services Group (NASDAQ:HCSG) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Healthcare Services Group (NASDAQ:HCSG) released its earnings results on Wednesday. The business services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04, Briefing.com reports. The company had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $424.91 million. Healthcare Services Group had a return on equity of 11.44% and a net margin of 2.44%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS.

Healthcare Services Group Price Performance

Shares of NASDAQ HCSG opened at $11.00 on Friday. Healthcare Services Group has a 1-year low of $8.75 and a 1-year high of $15.97. The business’s fifty day moving average price is $12.23 and its two-hundred day moving average price is $10.72. The firm has a market capitalization of $810.04 million, a PE ratio of 19.30 and a beta of 0.49.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Robert W. Baird increased their target price on Healthcare Services Group from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. UBS Group raised their price objective on Healthcare Services Group from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. StockNews.com upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Royal Bank of Canada raised their price objective on Healthcare Services Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, Benchmark increased their target price on Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.50.

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.