Chemed (NYSE:CHE) Releases FY 2024 Earnings Guidance

Chemed (NYSE:CHE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 23.550-23.800 for the period, compared to the consensus estimate of 23.210. The company issued revenue guidance of -. Chemed also updated its FY24 guidance to $23.55-23.80 EPS.

Chemed Price Performance

NYSE CHE traded down $6.51 during trading hours on Thursday, hitting $540.97. The company’s stock had a trading volume of 221,404 shares, compared to its average volume of 85,353. Chemed has a 12 month low of $492.84 and a 12 month high of $654.62. The company’s 50 day simple moving average is $544.12 and its two-hundred day simple moving average is $583.59. The company has a market cap of $8.19 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 2.23 and a beta of 0.43.

Chemed (NYSE:CHE) last announced its earnings results on Wednesday, July 24th. The company reported $5.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.59 by ($0.12). The firm had revenue of $595.88 million during the quarter, compared to analysts’ expectations of $599.20 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.71 earnings per share. As a group, research analysts predict that Chemed will post 21.54 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.60 annualized dividend and a yield of 0.30%. Chemed’s payout ratio is 8.61%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CHE. Royal Bank of Canada dropped their target price on Chemed from $712.00 to $697.00 and set an outperform rating on the stock 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.

Insider Activity

In other news, Director Patrick P. Grace sold 284 shares of Chemed 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 transaction, the director now directly owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the business’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 directly owns 108,549 shares of the company’s stock, valued at approximately $61,605,899.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $153,638.32. Following the completion of the transaction, 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. Insiders have sold a total of 5,784 shares of company stock valued at $3,240,053 in the last ninety days. 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.