Chemed (NYSE:CHE) Releases FY24 Earnings Guidance

Chemed (NYSE:CHE) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Price Performance

Shares of CHE traded down $9.40 during mid-day trading on Friday, reaching $563.94. The stock had a trading volume of 59,400 shares, compared to its average volume of 79,493. Chemed has a 52-week low of $492.84 and a 52-week high of $654.62. The business’s fifty day moving average is $623.76 and its 200 day moving average is $590.54. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 2.48 and a beta of 0.42.

Chemed (NYSE:CHE) last announced its 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 business had revenue of $589.23 million during the quarter, compared to analyst estimates 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 anticipate that Chemed will post 21.99 EPS for the current fiscal year.

Chemed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 annualized dividend and a dividend yield of 0.28%. Chemed’s dividend payout ratio is presently 8.61%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 1,422 shares of the company’s stock, valued at $917,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chemed news, CFO Michael D. Witzeman sold 2,650 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the completion of the sale, the chief financial officer now directly owns 2,882 shares in the company, valued at approximately $1,853,529.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $7,196,910.00. Following the sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at $917,190. The disclosure for this sale can be found here. Insiders have sold 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.

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.