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

Healthcare Services Group (NASDAQ:HCSG) announced its quarterly 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 firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Healthcare Services Group updated its Q4 2024 guidance to EPS.

Healthcare Services Group Stock Performance

Shares of HCSG stock traded up $0.12 during mid-day trading on Thursday, reaching $10.70. 632,091 shares of the company’s stock traded hands, compared to its average volume of 502,576. Healthcare Services Group has a 12 month low of $8.75 and a 12 month high of $13.00. The firm has a 50 day moving average price of $10.72 and a two-hundred day moving average price of $10.89. The firm has a market capitalization of $788.01 million, a PE ratio of 18.77 and a beta of 0.52.

Analyst Upgrades and Downgrades

HCSG has been the subject of a number of research analyst reports. Royal Bank of Canada cut 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 research report on Thursday, July 25th. Benchmark reaffirmed 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 reduced their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.