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 Up 0.2 %

Shares of Chemed stock traded up $1.05 during trading on Wednesday, reaching $617.56. The company’s stock had a trading volume of 67,370 shares, compared to its average volume of 77,478. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.43 and a beta of 0.42. Chemed has a 52-week low of $492.84 and a 52-week high of $654.62. The firm’s 50-day moving average is $623.23 and its two-hundred day moving average is $590.47.

Chemed (NYSE:CHE) last released its earnings results on Tuesday, February 27th. The company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.25 by $0.35. Chemed had a net margin of 12.03% and a return on equity of 32.29%. The firm had revenue of $585.90 million during the quarter, compared to analyst estimates of $586.64 million. During the same period last year, the business earned $5.39 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Chemed will post 21.99 EPS for the current year.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, February 23rd. Chemed’s dividend payout ratio is presently 8.93%.

Wall Street Analyst Weigh In

CHE has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted 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 objective on Chemed from $625.00 to $650.00 and gave the company an outperform rating in a report on Thursday, February 29th.

Insider Transactions at Chemed

In related news, EVP Spencer S. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction 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 approximately $13,320,654. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Chemed news, CFO Michael D. Witzeman sold 2,650 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were 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 in the company, valued at $1,853,529.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 20,760 shares in the company, valued at $13,320,654. The disclosure for this sale can be found here. Insiders have sold 15,808 shares of company stock valued at $10,184,531 in the last 90 days. 3.32% of the stock is currently owned by company insiders.

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.