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

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) posted its quarterly earnings data on Wednesday. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $429.95 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The firm's quarterly 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 Trading Up 1.1 %

NASDAQ:HCSG traded up $0.12 on Thursday, reaching $10.70. 632,091 shares of the stock traded hands, compared to its average volume of 502,576. The company 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 12 month low of $8.75 and a 12 month high of $13.00. The company's fifty day simple moving average is $10.72 and its 200 day simple moving average is $10.89.

Analysts Set New Price Targets

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

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.

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