Chemed (NYSE:CHE) Updates FY24 Earnings Guidance

Chemed (NYSE:CHE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $23.30-23.70 for the period, compared to the consensus earnings per share estimate of $23.52. Chemed also updated its FY 2024 guidance to 23.300-23.700 EPS.

Chemed Stock Down 6.9 %

Shares of CHE traded down $42.43 on Thursday, hitting $575.52. 121,328 shares of the stock traded hands, compared to its average volume of 78,014. The firm has a market capitalization of $8.70 billion, a P/E ratio of 32.00, a P/E/G ratio of 2.47 and a beta of 0.42. The stock’s 50 day moving average is $624.00 and its two-hundred day moving average is $590.66. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.09 by ($0.41). The firm had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. Chemed had a net margin of 12.03% and a return on equity of 32.29%. Research analysts forecast that Chemed will post 21.99 EPS for the current year.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio is currently 8.93%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Chemed from $604.00 to $712.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Oppenheimer increased their price objective on shares of Chemed from $625.00 to $650.00 and gave the stock an outperform rating in a research report on Thursday, February 29th.

Insider Activity at Chemed

In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian C. Judkins sold 11,158 shares of Chemed stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the sale, the vice president now owns 1,422 shares in the company, valued at $917,190. The disclosure for this sale can be found here. In the last three months, insiders sold 15,808 shares of company stock valued at $10,184,531. 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.