Research Analysts Issue Forecasts for Healthcare Services Group, Inc.’s Q1 2024 Earnings (NASDAQ:HCSG)

Healthcare Services Group, Inc. (NASDAQ:HCSG) – Research analysts at William Blair increased their Q1 2024 earnings estimates for shares of Healthcare Services Group in a research note issued to investors on Wednesday, April 24th. William Blair analyst R. Daniels now expects that the business services provider will earn $0.22 per share for the quarter, up from their previous forecast of $0.18. The consensus estimate for Healthcare Services Group’s current full-year earnings is $0.80 per share. William Blair also issued estimates for Healthcare Services Group’s FY2024 earnings at $0.80 EPS, Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.22 EPS and Q4 2025 earnings at $0.22 EPS.

A number of other equities analysts also recently commented on HCSG. UBS Group upped their price objective on shares of Healthcare Services Group from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Robert W. Baird upped their price target on shares of Healthcare Services Group from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. StockNews.com raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Benchmark upped their price target on shares of Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada upped their price target on shares of Healthcare Services Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Healthcare Services Group has an average rating of “Hold” and a consensus price target of $14.50.

Healthcare Services Group Stock Performance

Shares of Healthcare Services Group stock opened at $10.85 on Friday. The company has a market cap of $798.99 million, a P/E ratio of 19.04 and a beta of 0.49. Healthcare Services Group has a one year low of $8.75 and a one year high of $15.97. The firm has a fifty day moving average of $12.17 and a two-hundred day moving average of $10.73.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $424.91 million. Healthcare Services Group had a net margin of 2.44% and a return on equity of 11.44%. Healthcare Services Group’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CWM LLC grew its position in Healthcare Services Group by 173.4% in the third quarter. CWM LLC now owns 10,209 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 6,475 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Healthcare Services Group during the third quarter valued at about $796,000. Azarias Capital Management L.P. raised its stake in shares of Healthcare Services Group by 248.8% during the third quarter. Azarias Capital Management L.P. now owns 1,107,788 shares of the business services provider’s stock valued at $11,554,000 after purchasing an additional 790,233 shares in the last quarter. Cambiar Investors LLC raised its stake in shares of Healthcare Services Group by 6.2% during the third quarter. Cambiar Investors LLC now owns 150,629 shares of the business services provider’s stock valued at $1,571,000 after purchasing an additional 8,820 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Healthcare Services Group by 25.9% during the third quarter. Teacher Retirement System of Texas now owns 26,037 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 5,358 shares in the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

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.