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

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

Healthcare Services Group Stock Performance

NASDAQ:HCSG opened at $10.70 on Friday. The firm’s fifty day moving average is $10.72 and its two-hundred day moving average is $10.89. The firm has a market cap of $788.01 million, a price-to-earnings ratio of 18.77 and a beta of 0.52. Healthcare Services Group has a one year low of $8.75 and a one year high of $13.00.

Analyst Upgrades and Downgrades

HCSG has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday. Royal Bank of Canada dropped their target price on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Robert W. Baird decreased their price target 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.