Stock Alert: Healthcare Services Gains 13%

(RTTNews) - Healthcare Services Group, Inc. (HCSG) is climbing more than 13% on Wednesday morning. The stock is currently trading at $29.94 and has been in a range of $21.16- $40.91.

The company's Board declared a quarterly cash dividend of $0.20125 per common share, payable on March 27, to shareholders of on February 28.

Ted Wahl, Chief Executive Officer, stated, "We're seeing industry fundamentals continue to improve, with the positive impact of the Patient-Driven Payment Model and 2.4% Medicare increase, both of which took effect October 1 of last year, along with more favorable occupancy trends."

The company reported fourth-quarter earnings of $0.25 per share, in line with the average estimates of analysts polled by Thomson Reuters.

Revenue for the quarter, however, decreased to $446.96 million from $494.95 million last year. Analysts were expecting revenue to be $442.79 million.

Healthcare Services Group also announced the promotion of Andy Kush, Executive Vice President & Chief Administrative Officer, to the role of Executive Vice President & Chief Operating Officer, effective immediately.