Chemed (NYSE:CHE) Issues FY24 Earnings Guidance

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

Chemed Stock Performance

Shares of NYSE:CHE traded up $9.18 during midday trading on Friday, reaching $550.15. The company’s stock had a trading volume of 53,102 shares, compared to its average volume of 85,127. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.25 and a beta of 0.43. The firm has a 50 day moving average price of $543.57 and a two-hundred day moving average price of $583.29. Chemed has a fifty-two week low of $492.84 and a fifty-two week high of $654.62.

Chemed (NYSE:CHE) last issued its 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 29.90%. The firm 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 firm earned $4.71 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that Chemed will post 21.54 earnings per share for the current year.

Chemed Dividend Announcement

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

Wall Street Analysts Forecast Growth

CHE has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on Chemed from $712.00 to $697.00 and set an outperform rating for the company in a research report on Tuesday, May 21st. StockNews.com raised Chemed from a hold rating to a buy rating in a research report on Saturday, May 4th.

Insiders Place Their Bets

In other Chemed news, Director Patrick P. Grace sold 284 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,769,004.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the transaction, the director now directly owns 3,270 shares of the company’s stock, valued at $1,769,004.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,784 shares of company stock valued at $3,240,053. 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.