Chemed (NYSE:CHE) Issues Earnings Results, Misses Estimates By $0.12 EPS

Chemed (NYSE:CHE) posted its quarterly earnings results on Wednesday. The company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12), Briefing.com reports. Chemed had a return on equity of 29.90% and a net margin of 12.88%. The firm had revenue of $595.88 million for the quarter, compared to analyst estimates of $599.20 million. During the same period last year, the company posted $4.71 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Chemed updated its FY24 guidance to $23.55-23.80 EPS and its FY 2024 guidance to 23.550-23.800 EPS.

Chemed Trading Up 1.9 %

Shares of CHE stock traded up $10.12 during trading on Friday, hitting $551.09. The company’s stock had a trading volume of 41,563 shares, compared to its average volume of 85,047. The company has a market cap of $8.34 billion, a PE ratio of 29.50, a P/E/G ratio of 2.25 and a beta of 0.43. The business has a fifty day moving average of $543.57 and a 200-day moving average of $583.29. Chemed has a 52 week low of $492.84 and a 52 week high of $654.62.

Chemed Dividend Announcement

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

Wall Street Analyst Weigh In

CHE has been the topic of a number of research reports. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Royal Bank of Canada dropped their price target on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st.

Insider Activity

In other news, CEO Kevin J. Mcnamara sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was 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 directly owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the transaction, the chief executive officer now owns 108,549 shares in the company, valued at $61,605,899.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $544.17, for a total value of $816,255.00. Following the completion of the transaction, the chief executive officer now owns 107,049 shares in the company, valued at approximately $58,252,854.33. The disclosure for this sale can be found here. Insiders sold a total of 5,784 shares of company stock valued at $3,240,053 over the last three months. 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.