Healthcare Services Group (NASDAQ:HCSG) Announces Quarterly Earnings Results

Healthcare Services Group (NASDAQ:HCSG) announced its earnings results on Wednesday. The business services provider reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20, Briefing.com reports. The firm had revenue of $426.30 million for the quarter, compared to the consensus estimate of $424.94 million. Healthcare Services Group had a net margin of 2.44% and a return on equity of 11.44%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. Healthcare Services Group updated its Q4 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Healthcare Services Group Stock Down 1.0 %

Shares of NASDAQ:HCSG traded down $0.11 during midday trading on Thursday, hitting $10.96. The stock had a trading volume of 413,872 shares, compared to its average volume of 557,445. Healthcare Services Group has a 12 month low of $8.75 and a 12 month high of $13.86. The business’s 50-day simple moving average is $10.82 and its 200-day simple moving average is $11.12. The company has a market cap of $807.20 million, a P/E ratio of 19.18 and a beta of 0.53.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective 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. Benchmark reiterated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.50.

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.