Healthcare Services Group (NASDAQ:HCSG) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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

Healthcare Services Group Trading Up 1.1 %

Shares of HCSG stock traded up $0.12 during trading hours on Thursday, reaching $10.70. 632,091 shares of the company’s stock were exchanged, compared to its average volume of 502,576. Healthcare Services Group has a 1 year low of $8.75 and a 1 year high of $13.00. The stock has a market cap of $788.01 million, a PE ratio of 18.77 and a beta of 0.52. The stock’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $10.89.

Analyst Ratings Changes

A number of equities analysts have commented on HCSG shares. Royal Bank of Canada reduced their target price on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a report on Thursday. Finally, Robert W. Baird reduced their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.00.

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.