Healthcare Services Group (HCSG) PT Lowered to $27 at Stifel After Reporting Miss
- Wall Street closes rollercoaster week sharply lower
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Stifel analyst Tao Qiu lowered the price target on Healthcare Services Group (NASDAQ: HCSG) to $27.00 (from $31.00) after the company reported a 2Q revenue and EPS miss as it granted concession to Genesis on lower payment until the end of 2021 and more lenient credit terms until the end of 2022.
The analyst reiterated a Hold rating, stating "Investors have been concerned about Genesis' financial health. Given the new Genesis CEO's restructuring track record, the move is not surprising. What disappointed us was that dietary services margin came in lower than expected from supply cost normalization and onboarding of a new contract while the size of contract added in 3Q also missed our view. We are therefore lowering our 2021 EPS estimates by 13% and target price to $27 from $31. We reiterate Hold rating based on subdued growth near term despite strong balance sheet and attractive dividend."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BioMerieux (BIM:FP) (BMXMF) PT Raised to EUR110 at Berenberg
- AP Moller Maersk (MAERSKB:DC) (AMKBY) PT Raised to DKK22,559 at Credit Suisse
- NanoXplore (GRA:CN) (NNXPF) PT Raised to Cdn$8 at National Bank Financial
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!