Chemed (NYSE:CHE) Releases FY 2024 Earnings Guidance

Chemed (NYSE:CHE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 23.300-23.700 for the period, compared to the consensus estimate of 23.520. The company issued revenue guidance of -. Chemed also updated its FY24 guidance to $23.30-23.70 EPS.

Chemed Price Performance

Shares of NYSE CHE traded down $14.19 during mid-day trading on Friday, hitting $559.15. The company had a trading volume of 84,373 shares, compared to its average volume of 79,687. Chemed has a 12 month low of $492.84 and a 12 month high of $654.62. The firm has a market cap of $8.45 billion, a P/E ratio of 30.86, a PEG ratio of 2.48 and a beta of 0.42. The business’s 50-day simple moving average is $623.76 and its 200-day simple moving average is $590.54.

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

Chemed Announces Dividend

The firm 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Friday, February 23rd. Chemed’s payout ratio is 8.61%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHE. Royal Bank of Canada raised their price target on shares of Chemed from $604.00 to $712.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Oppenheimer boosted their price target on Chemed from $625.00 to $650.00 and gave the company an outperform rating in a research note on Thursday, February 29th.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the sale, the executive vice president now owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $643.14, for a total value of $1,704,321.00. Following the transaction, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at approximately $1,853,529.48. The disclosure for this sale can be found here. Insiders sold a total of 15,808 shares of company stock valued at $10,184,531 over the last three months. Company insiders own 3.32% of the company’s stock.

About Chemed

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.