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

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

Healthcare Services Group Price Performance

HCSG traded up $0.04 during trading on Friday, reaching $10.74. 672,674 shares of the stock traded hands, compared to its average volume of 503,397. Healthcare Services Group has a fifty-two week low of $8.94 and a fifty-two week high of $13.00. The stock’s 50-day simple moving average is $10.72 and its two-hundred day simple moving average is $10.89. The stock has a market cap of $790.96 million, a price-to-earnings ratio of 19.11 and a beta of 0.52.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HCSG shares. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday. Robert W. Baird lowered their target price on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada dropped their price target 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. Three 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, the stock currently 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.