Chemed (NYSE:CHE) Releases FY24 Earnings Guidance

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

Chemed Stock Performance

Shares of NYSE CHE traded up $1.44 during trading on Wednesday, reaching $617.95. The stock had a trading volume of 66,977 shares, compared to its average volume of 77,473. Chemed has a one year low of $492.84 and a one year high of $654.62. The stock has a market cap of $9.34 billion, a PE ratio of 34.47, a P/E/G ratio of 2.43 and a beta of 0.42. The firm’s 50 day moving average price is $623.23 and its two-hundred day moving average price is $590.47.

Chemed (NYSE:CHE) last released its quarterly earnings data on Tuesday, February 27th. The company reported $6.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.25 by $0.35. Chemed had a return on equity of 32.29% and a net margin of 12.03%. The business had revenue of $585.90 million during the quarter, compared to analyst estimates of $586.64 million. During the same quarter in the previous year, the firm posted $5.39 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts expect that Chemed will post 21.99 earnings per share for the current year.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 annualized dividend and a dividend yield of 0.26%. Chemed’s dividend payout ratio (DPR) is 8.93%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CHE. Oppenheimer upped 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. Royal Bank of Canada boosted their target price on Chemed from $604.00 to $712.00 and gave the stock an outperform rating in a research report on Monday, March 4th.

Insider Activity at Chemed

In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the business’s 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 transaction, the executive vice president now owns 20,760 shares in the company, valued at $13,320,654. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the sale, the executive vice president now owns 20,760 shares in the company, valued at approximately $13,320,654. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $643.14, for a total value of $1,704,321.00. Following the completion of the transaction, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at approximately $1,853,529.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,808 shares of company stock valued at $10,184,531. Company 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.