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 guidance of 23.300-23.700 for the period, compared to the consensus earnings per share estimate of 23.520. The company issued revenue guidance of -. Chemed also updated its FY24 guidance to $23.30-23.70 EPS.

Chemed Stock Down 2.3 %

CHE traded down $12.92 during trading on Friday, reaching $560.42. 102,418 shares of the company’s stock were exchanged, compared to its average volume of 69,274. Chemed has a fifty-two week low of $492.84 and a fifty-two week high of $654.62. The business has a 50 day moving average price of $623.29 and a 200 day moving average price of $590.84. The company has a market capitalization of $8.47 billion, a P/E ratio of 30.16, a PEG ratio of 2.30 and a beta of 0.42.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 30.52% and a net margin of 12.36%. The business had revenue of $589.23 million for the quarter, compared to analyst estimates of $587.18 million. As a group, research analysts forecast that Chemed will post 21.99 EPS for the current year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.29%. Chemed’s payout ratio is presently 8.61%.

Analyst Ratings Changes

CHE has been the subject of a number of analyst reports. Oppenheimer lifted their price objective on Chemed from $625.00 to $650.00 and gave the company an outperform rating in a report on Thursday, February 29th. StockNews.com cut Chemed from a buy rating to a hold rating in a report on Friday. Finally, Royal Bank of Canada lifted their price target on Chemed from $604.00 to $712.00 and gave the company an outperform rating in a report on Monday, March 4th.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the completion of the sale, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the completion of the sale, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian C. Judkins sold 11,158 shares of Chemed stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the sale, the vice president now owns 1,422 shares of the company’s stock, valued at $917,190. The disclosure for this sale can be found here. Insiders sold a total of 15,808 shares of company stock worth $10,184,531 over the last three months. 3.32% of the stock is currently owned by company insiders.

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.