Healthcare Services Group (NASDAQ:HCSG) Announces Earnings Results

Healthcare Services Group (NASDAQ:HCSG) issued its earnings results on Wednesday. The business services provider reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20, Briefing.com reports. The business had revenue of $426.30 million during the quarter, compared to analyst estimates of $424.94 million. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. Healthcare Services Group’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous 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 Performance

HCSG stock traded up $0.40 on Friday, hitting $11.19. 210,535 shares of the company’s stock were exchanged, compared to its average volume of 557,517. Healthcare Services Group has a 12-month low of $8.75 and a 12-month high of $13.01. The firm has a 50 day moving average price of $10.80 and a two-hundred day moving average price of $11.12. The stock has a market cap of $824.10 million, a P/E ratio of 19.39 and a beta of 0.53.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday. Robert W. Baird boosted their price target on Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada reduced their price target on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Healthcare Services Group presently has an average 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.