Chemed (NYSE:CHE) Updates 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 Trading Down 1.2 %

NYSE CHE traded down $6.51 on Thursday, reaching $540.97. The stock had a trading volume of 225,113 shares, compared to its average volume of 85,353. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.23 and a beta of 0.43. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62. The business has a 50 day moving average price of $544.12 and a 200 day moving average price of $583.59.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $5.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12). Chemed had a return on equity of 30.52% and a net margin of 12.36%. The business had revenue of $595.88 million during the quarter, compared to the consensus estimate of $599.20 million. During the same quarter in the prior year, the company posted $4.71 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts anticipate that Chemed will post 21.54 earnings per share for the current fiscal 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 issued 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 dividend payout ratio (DPR) is presently 8.61%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. 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 note on Tuesday, May 21st. StockNews.com upgraded Chemed from a hold rating to a buy rating in a research report on Saturday, May 4th.

Insider Buying and Selling

In other news, CEO Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the completion of the sale, the chief executive officer now owns 108,549 shares in the company, valued at $61,605,899.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Kevin J. Mcnamara sold 4,000 shares of Chemed stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the completion of the sale, the chief executive officer now directly owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 107,049 shares of the company’s stock, valued at $58,252,854.33. The disclosure for this sale can be found here. Insiders have sold a total of 5,784 shares of company stock worth $3,240,053 in the last 90 days. Corporate insiders own 3.32% of the company’s stock.

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.