What is William Blair's Estimate for HCSG FY2024 Earnings?

Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) - Stock analysts at William Blair raised their FY2024 EPS estimates for Healthcare Services Group in a research report issued on Wednesday, October 23rd. William Blair analyst R. Daniels now forecasts that the business services provider will post earnings per share of $0.81 for the year, up from their previous estimate of $0.78. The consensus estimate for Healthcare Services Group's current full-year earnings is $0.78 per share.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.03. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The firm had revenue of $428.10 million during the quarter, compared to analysts' expectations of $429.95 million. During the same period in the previous year, the business posted $0.17 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on HCSG. Benchmark reissued a "buy" rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday. Robert W. Baird dropped their target price on Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Royal Bank of Canada dropped their target price on Healthcare Services Group from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $14.00.

Healthcare Services Group Price Performance

HCSG stock traded up $0.21 during midday trading on Monday, reaching $10.95. 364,753 shares of the company were exchanged, compared to its average volume of 502,730. The business has a 50-day moving average price of $10.72 and a two-hundred day moving average price of $10.86. Healthcare Services Group has a one year low of $8.98 and a one year high of $13.00. The firm has a market capitalization of $803.51 million, a price-to-earnings ratio of 25.47 and a beta of 0.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System grew its position in Healthcare Services Group by 5.3% in the third quarter. New York State Teachers Retirement System now owns 128,203 shares of the business services provider's stock valued at $1,432,000 after acquiring an additional 6,418 shares during the last quarter. Semanteon Capital Management LP grew its position in Healthcare Services Group by 40.5% in the third quarter. Semanteon Capital Management LP now owns 22,827 shares of the business services provider's stock valued at $255,000 after acquiring an additional 6,575 shares during the last quarter. Financial Management Professionals Inc. grew its position in Healthcare Services Group by 85.7% in the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider's stock valued at $91,000 after acquiring an additional 3,774 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Healthcare Services Group by 62.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 19,119 shares of the business services provider's stock valued at $214,000 after acquiring an additional 7,362 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Healthcare Services Group by 1,017.5% in the third quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider's stock valued at $1,150,000 after acquiring an additional 9,371 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company's stock.

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.