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. The Housekeeping segment engages in the cleaning, disinfecting, and sanitizing of resident rooms and common areas of client's facility, as well as laundering and processing of the bed linens, uniforms, resident personal clothing, and other assorted linen items utilized at a client's facility. The Dietary segment provides food purchasing, meal preparation, and professional dietitian services, which include the development of menus that meet the dietary needs of residents. This segment also offers clinical consulting services to facilities. As of December 31, 2020, the company provided its services to approximately 3,000 facilities. Healthcare Services Group, Inc. was incorporated in 1976 and is based in Bensalem, Pennsylvania.
IPO Year: 1983
Exchange: NASDAQ
Website: hcsgcorp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/24/2023 | $8.50 → $14.00 | Underperform → Hold | Jefferies |
| 2/17/2023 | $14.00 → $17.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 10/20/2022 | $18.00 | Hold → Buy | The Benchmark Company |
| 2/10/2022 | $19.00 → $13.50 | Hold → Underperform | Jefferies |
| 10/22/2021 | $28.00 → $22.00 | Neutral | Credit Suisse |
| 10/21/2021 | $29.00 → $20.00 | Sector Perform | RBC Capital |
| 10/20/2021 | Outperform → Mkt Perform | William Blair | |
| 7/22/2021 | $30.00 → $29.00 | Sector Perform | RBC Capital |
| 6/23/2021 | $31.00 | Hold | Stifel |
10-Q - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
8-K - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
8-K - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
8-K - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
10-Q - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
8-K - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
8-K - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
8-K - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
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DEF 14A - HEALTHCARE SERVICES GROUP INC (0000731012) (Filer)
Healthcare Services Group, Inc. (NASDAQ:HCSG) today announced the appointment of Vikas Singh as EVP & Chief Financial Officer, effective September 3, 2024. He will oversee HCSG's accounting and finance operations, and play a key role in corporate development, investor relations, and the success of its long-term growth strategy. Mr. Singh brings over two decades of diverse experience in finance, strategy and operations to the Company. Most recently, he served as Managing Director of Leveraged Finance & Capital Markets at Bank of America Securities. Prior to that he worked in the Financial Sponsors Group at Credit Suisse and in the Asia-Pacific Credit Card Group at Citibank. Mr. Singh began
Delivers QoQ and YoY Growth In Revenue, Earnings and Cash Flow Revenue of $428.1 million, in line with expectations. Net income and diluted EPS of $14.0 million and $0.19. Reported and adjusted cash flow from operations of $4.3 million and $19.0 million. Reaffirms Q4 revenue estimate of $430.0 to $440.0 million and FY 2024 cash flow forecast of $40.0 to $55.0 million. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended September 30, 2024. Ted Wahl, Chief Executive Officer, stated, "We're very pleased with our third quarter results, which underscore the positive momentum we're carrying into the fourth quarter. Executing on our three stra
Healthcare Services Group, Inc. (NASDAQ:HCSG) today announced the appointment of Vikas Singh as EVP & Chief Financial Officer, effective September 3, 2024. He will oversee HCSG's accounting and finance operations, and play a key role in corporate development, investor relations, and the success of its long-term growth strategy. Mr. Singh brings over two decades of diverse experience in finance, strategy and operations to the Company. Most recently, he served as Managing Director of Leveraged Finance & Capital Markets at Bank of America Securities. Prior to that he worked in the Financial Sponsors Group at Credit Suisse and in the Asia-Pacific Credit Card Group at Citibank. Mr. Singh began
Raises Second Half 2024 Revenue Estimates, Reaffirms Full-Year 2024 Cash Flow Forecast Revenue of $426.3 million, in line with expectations. Net income and diluted EPS of ($1.8) million and ($0.02); includes $0.22 impact of client restructuring charges. Reported and adjusted cash flow from operations of $16.3 million and ($2.4) million. Raises Q3 and Q4 revenue estimates to $425.0 to $435.0 million and $430.0 to $440.0 million. Reaffirms 2024 adjusted cash flow range of $40.0 to $55.0 million. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended June 30, 2024. Ted Wahl, Chief Executive Officer, stated, "Our field-based team deli
Healthcare Services Group, Inc. (NASDAQ:HCSG) today issued the following statement in response to LaVie Care Centers' announcement that it had filed for Chapter 11 bankruptcy protection in the Northern District of Georgia. As a result of LaVie's filing, the Company estimates a Q2 non-cash charge of approximately $0.20 per share. The Company expects to continue providing services to LaVie and expects no impact on future revenue or earnings. Additionally, the Company anticipates no disruption in postpetition payments and reiterates its previously shared Q2 and 2024 adjusted cash flow expectations of $5.0 million to $15.0 million and $40.0 million to $55.0 million, respectively. Ted Wahl, Ch
Exceeds Earnings Expectations, Revenue In Line Reiterates 2024 Cash Flow Forecast & Expectation for YoY Revenue Growth Revenue of $423.4 million, in line with expectations. Net income and diluted EPS of $15.3 million and $0.21; adjusted net income(1) and adjusted diluted EPS(1) of $16.5 million and $0.22. Adjusted EBITDA(1) of $28.9 million, a 10.7% increase over Q1 2023. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended March 31, 2024. Ted Wahl, Chief Executive Officer, stated, "Our team delivered strong first quarter results, building on our positive momentum in 2023. During the quarter, we managed adjusted cost of services unde
Exceeds Earnings and Cash Flow Expectations, Revenue In-Line Revenue of $423.8 million; adjusted revenue(1) of $425.0 million, in-line with expectations. Net income and diluted EPS of $22.6 million and $0.31; adjusted net income(1) and adjusted diluted EPS(1) of $14.6 million and $0.20. Adjusted EBITDA(1) of $26.5 million, a 14.2% increase over Q4 2022. Cash flow from operations of $49.5 million; adjusted cash flow from operations(1) of $27.9 million, a 7.1% increase over Q4 2022. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended December 31, 2023. Ted Wahl, Chief Executive Officer, stated, "Our team delivered strong fourth quar
Revenue of $411.4 million; adjusted revenue(1) of $424.0 million, in line with expectations. Net income and diluted EPS of ($5.5) million and ($0.07); adjusted net income(1) and adjusted diluted EPS(1) of $12.5 million and $0.17, a 13.7% and 13.3% increase, respectively, over Q3 2022. Adjusted EBITDA(1) of $23.2 million, a 10.2% increase over Q3 2022. Cash flow from operations of $2.9 million; adjusted cash flow from operations(1) of $18.0 million, a 208.9% increase over Q3 2022. Raises expectations for second half of 2023 cash flow from operations from a range of $20.0 million to $30.0 million, to $35.0 million to $45.0 million. Healthcare Services Group, Inc. (NASDAQ:HCSG)
Robust New Business Pipeline Sets Stage For Second Half Of Year Growth Healthcare Services Group, Inc. (NASDAQ:HCSG) reported for the three months ended June 30, 2023 revenue of $418.9 million, GAAP net income of $8.6 million, or $0.12 per basic and diluted common share, and adjusted EBITDA of $26.3 million. Q2 Results Revenue for the quarter was reported at $418.9 million, with housekeeping & laundry and dining & nutrition segment revenues of $190.8 million and $228.1 million, respectively. Housekeeping & laundry and dining & nutrition segment margins were 8.7% and 5.5%, respectively. Direct cost of services was reported at $367.7 million, or 87.8%. Direct cost included an $11
Continues Positive Business Momentum, Adjusted EBITDA up 18% Healthcare Services Group, Inc. (NASDAQ:HCSG) (the "Company") reported for the three months ended March 31, 2023 revenue of $417.2 million, GAAP net income of $12.7 million, or $0.17 per basic and diluted common share, and adjusted EBITDA of $27.5 million. Q1 Results Revenue for the quarter was reported at $417.2 million, with housekeeping & laundry and dining & nutrition segment revenues of $193.5 million and $223.7 million, respectively. Housekeeping & laundry and dining & nutrition segment margins were 10.4% and 6.6%, respectively. Direct cost of services was reported at $361.0 million, or 86.5%. Direct cost includ
Achieves Direct Cost Target, Rebalances Capital Allocation Strategy Healthcare Services Group, Inc. (NASDAQ:HCSG) (the "Company") reported for the three months ended December 31, 2022 revenue of $424.0 million, net income of $16.2 million, or $0.22 per basic and diluted common share, and cash flow from operations of $22.9 million. The Company also announced that, as part of a comprehensive rebalancing of its capital allocation strategy, its Board of Directors has suspended the quarterly cash dividend on its common stock and authorized the repurchase of up to 7.5 million shares of its common stock. Q4 Results Revenue for the quarter was reported at $424.0 million, with housekeeping & lau
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Baird analyst Andrew Wittmann maintains Healthcare Services Group (NASDAQ:HCSG) with a Neutral and raises the price target from $13 to $14.
Healthcare Services Group, Inc. (NASDAQ:HCSG) today issued the following statement in response to LaVie Care Centers' announcement that it had filed for Chapter 11 bankruptcy protection in the Northern District of Georgia. As a result of LaVie's filing, the Company estimates a Q2 non-cash charge of approximately $0.20 per share. The Company expects to continue providing services to LaVie and expects no impact on future revenue or earnings. Additionally, the Company anticipates no disruption in postpetition payments and reiterates its previously shared Q2 and 2024 adjusted cash flow expectations of $5.0 million to $15.0 million and $40.0 million to $55.0 million, respectively.
Healthcare Services Group (NASDAQ:HCSG) reported quarterly earnings of $0.22 per share which beat the analyst consensus estimate of $0.19 by 15.79 percent. This is a 10 percent increase over earnings of $0.20 per share from the same period last year. The company reported quarterly sales of $423.433 which missed the analyst consensus estimate of $424.949 million by 100.00 percent. This is a 100.00 percent decrease over sales of $417.230 million the same period last year.
Benchmark analyst Bill Sutherland maintains Healthcare Services Group (NASDAQ:HCSG) with a Buy and raises the price target from $16 to $17.
Across the recent three months, 5 analysts have shared their insights on Healthcare Services Group (NASDAQ:HCSG), expressing a variety of opinions spanning from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 3 0 0 Last 30D 0 1 2 0 0 1M Ago 0 0 0 0 0 2M Ago 1 0 0 0 0 3M Ago 0 0 1 0 0 In the assessment of 12-month price targets, analysts unveil insights for Healthcare Services Group, presenting an average target of $13.6, a high estimate of $16.00, and a low
RBC Capital analyst Sean Dodge maintains Healthcare Services Group (NASDAQ:HCSG) with a Outperform and raises the price target from $14 to $15.
U.S. stocks traded mostly higher toward the end of trading, with the Nasdaq Composite gaining around 100 points on Wednesday. The Dow traded up 0.11% to 38,313.27 while the NASDAQ rose 0.70% to 15,765.18. The S&P 500 also rose, gaining, 0.49% to 4,977.43. Check This Out: Snap, American Express And 2 Other Stocks Insiders Are Selling Leading and Lagging Sectors Industrials shares rose by 1.1% on Wednesday. In trading on Wednesday, consumer staples shares fell by 0.6%. Top Headline Crude oil inventories in the U.S. surged by 12.018 million barrels in the week ending Feb. 9, compared to market estimates of a 2.56 million rise. Equities Trading UP enGene Holdings Inc.
Jefferies upgraded Healthcare Services Group from Underperform to Hold and set a new price target of $14.00 from $8.50 previously
RBC Capital Mkts upgraded Healthcare Services Group from Sector Perform to Outperform and set a new price target of $17.00 from $14.00 previously
The Benchmark Company upgraded Healthcare Services Group from Hold to Buy and set a new price target of $18.00
Jefferies downgraded Healthcare Services Group from Hold to Underperform and set a new price target of $13.50 from $19.00 previously
Credit Suisse reiterated coverage of Healthcare Services Group with a rating of Neutral and set a new price target of $22.00 from $28.00 previously
RBC Capital reiterated coverage of Healthcare Services Group with a rating of Sector Perform and set a new price target of $20.00 from $29.00 previously
William Blair downgraded Healthcare Services Group from Outperform to Mkt Perform
RBC Capital reiterated coverage of Healthcare Services Group with a rating of Sector Perform and set a new price target of $29.00 from $30.00 previously
Stifel resumed coverage of Healthcare Services Group with a rating of Hold and set a new price target of $31.00
Credit Suisse reiterated coverage of Healthcare Services Group with a rating of Neutral and set a new price target of $31.00 from $32.00 previously
Delivers QoQ and YoY Growth In Revenue, Earnings and Cash Flow Revenue of $428.1 million, in line with expectations. Net income and diluted EPS of $14.0 million and $0.19. Reported and adjusted cash flow from operations of $4.3 million and $19.0 million. Reaffirms Q4 revenue estimate of $430.0 to $440.0 million and FY 2024 cash flow forecast of $40.0 to $55.0 million. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended September 30, 2024. Ted Wahl, Chief Executive Officer, stated, "We're very pleased with our third quarter results, which underscore the positive momentum we're carrying into the fourth quarter. Executing on our three stra
Raises Second Half 2024 Revenue Estimates, Reaffirms Full-Year 2024 Cash Flow Forecast Revenue of $426.3 million, in line with expectations. Net income and diluted EPS of ($1.8) million and ($0.02); includes $0.22 impact of client restructuring charges. Reported and adjusted cash flow from operations of $16.3 million and ($2.4) million. Raises Q3 and Q4 revenue estimates to $425.0 to $435.0 million and $430.0 to $440.0 million. Reaffirms 2024 adjusted cash flow range of $40.0 to $55.0 million. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended June 30, 2024. Ted Wahl, Chief Executive Officer, stated, "Our field-based team deli
Healthcare Services Group, Inc. (NASDAQ:HCSG) today issued the following statement in response to LaVie Care Centers' announcement that it had filed for Chapter 11 bankruptcy protection in the Northern District of Georgia. As a result of LaVie's filing, the Company estimates a Q2 non-cash charge of approximately $0.20 per share. The Company expects to continue providing services to LaVie and expects no impact on future revenue or earnings. Additionally, the Company anticipates no disruption in postpetition payments and reiterates its previously shared Q2 and 2024 adjusted cash flow expectations of $5.0 million to $15.0 million and $40.0 million to $55.0 million, respectively. Ted Wahl, Ch
Exceeds Earnings Expectations, Revenue In Line Reiterates 2024 Cash Flow Forecast & Expectation for YoY Revenue Growth Revenue of $423.4 million, in line with expectations. Net income and diluted EPS of $15.3 million and $0.21; adjusted net income(1) and adjusted diluted EPS(1) of $16.5 million and $0.22. Adjusted EBITDA(1) of $28.9 million, a 10.7% increase over Q1 2023. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended March 31, 2024. Ted Wahl, Chief Executive Officer, stated, "Our team delivered strong first quarter results, building on our positive momentum in 2023. During the quarter, we managed adjusted cost of services unde
Exceeds Earnings and Cash Flow Expectations, Revenue In-Line Revenue of $423.8 million; adjusted revenue(1) of $425.0 million, in-line with expectations. Net income and diluted EPS of $22.6 million and $0.31; adjusted net income(1) and adjusted diluted EPS(1) of $14.6 million and $0.20. Adjusted EBITDA(1) of $26.5 million, a 14.2% increase over Q4 2022. Cash flow from operations of $49.5 million; adjusted cash flow from operations(1) of $27.9 million, a 7.1% increase over Q4 2022. Healthcare Services Group, Inc. (NASDAQ:HCSG) today reported results for the three months ended December 31, 2023. Ted Wahl, Chief Executive Officer, stated, "Our team delivered strong fourth quar
Revenue of $411.4 million; adjusted revenue(1) of $424.0 million, in line with expectations. Net income and diluted EPS of ($5.5) million and ($0.07); adjusted net income(1) and adjusted diluted EPS(1) of $12.5 million and $0.17, a 13.7% and 13.3% increase, respectively, over Q3 2022. Adjusted EBITDA(1) of $23.2 million, a 10.2% increase over Q3 2022. Cash flow from operations of $2.9 million; adjusted cash flow from operations(1) of $18.0 million, a 208.9% increase over Q3 2022. Raises expectations for second half of 2023 cash flow from operations from a range of $20.0 million to $30.0 million, to $35.0 million to $45.0 million. Healthcare Services Group, Inc. (NASDAQ:HCSG)
Robust New Business Pipeline Sets Stage For Second Half Of Year Growth Healthcare Services Group, Inc. (NASDAQ:HCSG) reported for the three months ended June 30, 2023 revenue of $418.9 million, GAAP net income of $8.6 million, or $0.12 per basic and diluted common share, and adjusted EBITDA of $26.3 million. Q2 Results Revenue for the quarter was reported at $418.9 million, with housekeeping & laundry and dining & nutrition segment revenues of $190.8 million and $228.1 million, respectively. Housekeeping & laundry and dining & nutrition segment margins were 8.7% and 5.5%, respectively. Direct cost of services was reported at $367.7 million, or 87.8%. Direct cost included an $11
Continues Positive Business Momentum, Adjusted EBITDA up 18% Healthcare Services Group, Inc. (NASDAQ:HCSG) (the "Company") reported for the three months ended March 31, 2023 revenue of $417.2 million, GAAP net income of $12.7 million, or $0.17 per basic and diluted common share, and adjusted EBITDA of $27.5 million. Q1 Results Revenue for the quarter was reported at $417.2 million, with housekeeping & laundry and dining & nutrition segment revenues of $193.5 million and $223.7 million, respectively. Housekeeping & laundry and dining & nutrition segment margins were 10.4% and 6.6%, respectively. Direct cost of services was reported at $361.0 million, or 86.5%. Direct cost includ
Achieves Direct Cost Target, Rebalances Capital Allocation Strategy Healthcare Services Group, Inc. (NASDAQ:HCSG) (the "Company") reported for the three months ended December 31, 2022 revenue of $424.0 million, net income of $16.2 million, or $0.22 per basic and diluted common share, and cash flow from operations of $22.9 million. The Company also announced that, as part of a comprehensive rebalancing of its capital allocation strategy, its Board of Directors has suspended the quarterly cash dividend on its common stock and authorized the repurchase of up to 7.5 million shares of its common stock. Q4 Results Revenue for the quarter was reported at $424.0 million, with housekeeping & lau
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