Healthcare Services Group, Inc. (NASDAQ:HCSG) declared a quarterly dividend on Tuesday, February 5th, RTT News reports. Shareholders of record on Friday, February 15th will be paid a dividend of 0.1963 per share by the business services provider on Friday, March 22nd. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.20.
Healthcare Services Group has raised its dividend by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Healthcare Services Group has a dividend payout ratio of 52.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Healthcare Services Group to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 47.3%.
Shares of NASDAQ:HCSG opened at $42.17 on Wednesday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 35.44 and a beta of 0.89. Healthcare Services Group has a 12-month low of $35.04 and a 12-month high of $51.17.
Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, February 5th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.05. The business had revenue of $496.41 million for the quarter, compared to analyst estimates of $507.45 million. Healthcare Services Group had a net margin of 3.59% and a return on equity of 17.80%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Sell-side analysts expect that Healthcare Services Group will post 1.43 earnings per share for the current year.
Several brokerages recently commented on HCSG. Zacks Investment Research downgraded shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. BidaskClub downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 31st. Finally, ValuEngine raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Healthcare Services Group has a consensus rating of “Hold” and a consensus price target of $45.86.
In other Healthcare Services Group news, Director Dino D. Ottaviano sold 700 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $46.98, for a total transaction of $32,886.00. Following the sale, the director now owns 1,244 shares in the company, valued at approximately $58,443.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert J. Moss sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $47.55, for a total transaction of $95,100.00. Following the sale, the director now owns 2,000 shares in the company, valued at approximately $95,100. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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