Chemed (NYSE:CHE) Issues FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

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

Chemed Stock Performance

CHE stock traded down $48.19 during trading on Thursday, hitting $569.76. The stock had a trading volume of 178,818 shares, compared to its average volume of 78,624. Chemed has a 1-year low of $492.84 and a 1-year high of $654.62. The company’s 50 day moving average price is $624.00 and its two-hundred day moving average price is $590.66. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). The firm had revenue of $589.23 million during the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 32.29% and a net margin of 12.03%. As a group, sell-side analysts forecast that Chemed will post 21.99 earnings per share for the current fiscal year.

Chemed Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio is 8.93%.

Insider Buying and Selling

In other 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 value of $1,283,300.00. Following the sale, the executive vice president now directly owns 20,760 shares of the company’s stock, valued at $13,320,654. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 1,422 shares of the company’s stock, valued at $917,190. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 20,760 shares of the company’s stock, valued at $13,320,654. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,808 shares of company stock valued at $10,184,531. Corporate insiders own 3.32% of the company’s stock.

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.