Healthcare Services Group (NASDAQ:HCSG) Issues Earnings Results

Healthcare Services Group (NASDAQ:HCSG) announced its earnings results on Wednesday. The business services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03, Briefing.com reports. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The company had revenue of $428.10 million during the quarter, compared to the consensus estimate of $429.95 million. During the same period last year, the firm earned $0.17 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Healthcare Services Group updated its Q4 2024 guidance to EPS.

Healthcare Services Group Stock Up 1.1 %

NASDAQ:HCSG traded up $0.12 during trading hours on Thursday, reaching $10.70. 632,091 shares of the stock were exchanged, compared to its average volume of 502,576. The stock has a market capitalization of $788.01 million, a P/E ratio of 18.77 and a beta of 0.52. The firm has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $10.89. Healthcare Services Group has a 52 week low of $8.75 and a 52 week high of $13.00.

Wall Street Analyst Weigh In

HCSG has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. Benchmark reissued a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday. Finally, Royal Bank of Canada cut their price target on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.

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.