Select Medical (NYSE:SEM) Updates FY24 Earnings Guidance

Select Medical (NYSE:SEM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.96-2.20 for the period, compared to the consensus estimate of $2.03. The company issued revenue guidance of $6.9-7.1 billion, compared to the consensus revenue estimate of $6.97 billion.

Select Medical Stock Performance

Shares of SEM stock traded up $0.47 during mid-day trading on Thursday, reaching $28.45. 579,264 shares of the company’s stock traded hands, compared to its average volume of 560,516. The firm has a market capitalization of $3.65 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average price of $28.31 and a two-hundred day moving average price of $25.85. Select Medical has a 12 month low of $21.28 and a 12 month high of $33.51.

Select Medical (NYSE:SEM) last posted its quarterly earnings data on Friday, February 23rd. The health services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. Select Medical had a return on equity of 16.93% and a net margin of 3.65%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. On average, research analysts forecast that Select Medical will post 2.03 EPS for the current year.

Select Medical Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Friday, March 1st were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, February 29th. Select Medical’s dividend payout ratio is currently 26.18%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SEM shares. Benchmark restated a buy rating and issued a $39.00 price objective on shares of Select Medical in a research report on Friday, April 12th. StockNews.com upgraded Select Medical from a hold rating to a buy rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $34.40.

Insider Buying and Selling

In related news, Chairman Robert A. Ortenzio sold 50,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $29.90, for a total value of $1,495,000.00. Following the sale, the chairman now owns 6,689,668 shares in the company, valued at $200,021,073.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.14% of the stock is owned by company insiders.

About Select Medical

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.