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

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

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $10.70 on Friday. The stock has a market capitalization of $788.01 million, a price-to-earnings ratio of 18.77 and a beta of 0.52. Healthcare Services Group has a 1-year low of $8.75 and a 1-year high of $13.00. The business has a fifty day moving average price of $10.72 and a 200-day moving average price of $10.89.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird cut their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada cut their price target on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Benchmark reiterated a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Healthcare Services Group presently has an average rating of “Hold” and a consensus target price 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.