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 reduced their Q3 2024 earnings estimates for shares of Healthcare Services Group in a research note issued 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 prior 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 issued its earnings results on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The business had revenue of $426.30 million during the quarter, compared to analysts’ expectations of $424.94 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis.

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

Healthcare Services Group Stock Performance

Shares of NASDAQ:HCSG 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 stock has a market capitalization of $835.93 million, a P/E ratio of 19.91 and a beta of 0.53. The stock has a 50-day simple moving average of $10.80 and a 200-day simple moving average of $11.12.

Hedge Funds Weigh In On Healthcare Services Group

A number of institutional investors and hedge funds have recently bought and sold shares of HCSG. Headlands Technologies LLC purchased a new position in Healthcare Services Group in the 1st quarter worth approximately $27,000. Financial Management Professionals Inc. purchased a new position in shares of Healthcare Services Group during the 1st quarter valued at approximately $55,000. PNC Financial Services Group Inc. boosted its stake in shares of Healthcare Services Group by 38.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock valued at $64,000 after buying an additional 1,714 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Healthcare Services Group during the 2nd quarter valued at approximately $124,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Healthcare Services Group by 14.0% during the 4th quarter. Victory Capital Management Inc. now owns 14,586 shares of the business services provider’s stock valued at $151,000 after buying an additional 1,795 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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.