Chemed (NYSE:CHE) Releases FY24 Earnings Guidance

Chemed (NYSE:CHE) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $23.30-23.70 for the period, compared to the consensus estimate of $23.52. Chemed also updated its FY 2024 guidance to 23.300-23.700 EPS.

Chemed Stock Performance

Shares of Chemed stock traded down $9.40 on Friday, hitting $563.94. 59,400 shares of the company traded hands, compared to its average volume of 79,493. The stock has a market capitalization of $8.53 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 2.48 and a beta of 0.42. Chemed has a 52 week low of $492.84 and a 52 week high of $654.62. The business has a 50-day simple moving average of $623.76 and a 200 day simple moving average of $590.54.

Chemed (NYSE:CHE) last released its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 31.69% and a net margin of 12.36%. The business had revenue of $589.23 million during the quarter, compared to analysts’ expectations of $587.18 million. Research analysts expect that Chemed will post 21.99 earnings per share for the current year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.60 annualized dividend and a dividend yield of 0.28%. Chemed’s dividend payout ratio (DPR) is currently 8.61%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHE. Royal Bank of Canada increased their price target on shares of Chemed from $604.00 to $712.00 and gave the stock an outperform rating in a report on Monday, March 4th. Oppenheimer increased their target price on Chemed from $625.00 to $650.00 and gave the company an outperform rating in a research report on Thursday, February 29th.

Insiders Place Their Bets

In related news, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at approximately $917,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the transaction, the vice president now owns 1,422 shares of the company’s stock, valued at $917,190. The disclosure for this sale can be found here. Insiders sold 15,808 shares of company stock valued at $10,184,531 in the last three months. 3.32% of the stock is currently owned by insiders.

Chemed Company Profile

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.