Healthcare Services Group, Inc. to Post Q3 2024 Earnings of $0.16 Per Share, William Blair Forecasts (NASDAQ:HCSG)

Healthcare Services Group, Inc. (NASDAQ:HCSG) – William Blair decreased their Q3 2024 earnings per share (EPS) estimates for Healthcare Services Group in a report released on Wednesday, July 24th. William Blair analyst R. Daniels now anticipates that the business services provider will earn $0.16 per share for the quarter, down from their previous forecast of $0.19. The consensus estimate for Healthcare Services Group’s current full-year earnings is $0.80 per share.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The company had revenue of $426.30 million during the quarter, compared to the consensus estimate of $424.94 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year.

A number of other research analysts also recently issued reports on HCSG. Royal Bank of Canada decreased their price objective on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday. Robert W. Baird increased their price objective on Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Benchmark reiterated a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Healthcare Services Group Price Performance

Shares of Healthcare Services Group stock opened at $11.35 on Friday. Healthcare Services Group has a 1 year low of $8.75 and a 1 year high of $13.01. The business has a 50-day moving average of $10.80 and a two-hundred day moving average of $11.12. The company has a market capitalization of $835.93 million, a P/E ratio of 19.91 and a beta of 0.53.

Institutional Trading of Healthcare Services Group

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Healthcare Services Group by 131.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,718 shares of the business services provider’s stock valued at $156,000 after buying an additional 8,359 shares during the last quarter. Azarias Capital Management L.P. lifted its position in shares of Healthcare Services Group by 50.7% in the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after buying an additional 412,704 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Healthcare Services Group in the second quarter valued at approximately $124,000. Raymond James & Associates lifted its position in shares of Healthcare Services Group by 9.2% in the second quarter. Raymond James & Associates now owns 383,864 shares of the business services provider’s stock valued at $4,061,000 after buying an additional 32,411 shares during the last quarter. Finally, Stanley Laman Group Ltd. lifted its position in shares of Healthcare Services Group by 1.7% in the second quarter. Stanley Laman Group Ltd. now owns 343,455 shares of the business services provider’s stock valued at $3,634,000 after buying an additional 5,816 shares during the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

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.