Chemed (NYSE:CHE) Updates FY24 Earnings Guidance

Chemed (NYSE:CHE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $23.55-23.80 for the period, compared to the consensus earnings per share estimate of $23.21. Chemed also updated its FY 2024 guidance to 23.550-23.800 EPS.

Wall Street Analysts Forecast Growth

Several research firms have commented on CHE. Royal Bank of Canada dropped their price objective on shares of Chemed from $712.00 to $697.00 and set an outperform rating for the company in a report on Tuesday, May 21st. StockNews.com raised shares of Chemed from a hold rating to a buy rating in a report on Saturday, May 4th.

Chemed Stock Up 1.5 %

CHE opened at $549.27 on Friday. Chemed has a 52 week low of $492.84 and a 52 week high of $654.62. The firm has a 50-day simple moving average of $543.25 and a two-hundred day simple moving average of $583.12. The company has a market capitalization of $8.32 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.23 and a beta of 0.43.

Chemed (NYSE:CHE) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $5.47 EPS for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12). Chemed had a net margin of 12.88% and a return on equity of 29.21%. The business had revenue of $595.88 million during the quarter, compared to the consensus estimate of $599.20 million. During the same period in the previous year, the business posted $4.71 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Chemed will post 21.54 earnings per share for the current year.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Thursday, May 30th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Thursday, May 30th. Chemed’s payout ratio is 8.61%.

Insider Activity at Chemed

In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $567.54, for a total value of $2,270,160.00. Following the completion of the transaction, the chief executive officer now owns 108,549 shares of the company’s stock, valued at approximately $61,605,899.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $567.54, for a total value of $2,270,160.00. Following the sale, the chief executive officer now directly owns 108,549 shares of the company’s stock, valued at approximately $61,605,899.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick P. Grace sold 284 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total transaction of $153,638.32. Following the completion of the sale, the director now directly owns 3,270 shares in the company, valued at $1,769,004.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,784 shares of company stock valued at $3,240,053. 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.