Chemed (NYSE:CHE) Issues 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 23.300-23.700 for the period, compared to the consensus estimate of 23.520. The company issued revenue guidance of -. Chemed also updated its FY24 guidance to $23.30-23.70 EPS.

Chemed Price Performance

Shares of CHE stock traded up $1.05 during trading hours on Wednesday, reaching $617.56. 67,370 shares of the company’s stock were exchanged, compared to its average volume of 77,478. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62. The company has a market cap of $9.34 billion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 2.43 and a beta of 0.42. The company’s 50 day moving average is $623.23 and its two-hundred day moving average is $590.47.

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

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.26%. 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

A number of equities research analysts have weighed in on CHE shares. Oppenheimer upped their target price on Chemed from $625.00 to $650.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Royal Bank of Canada upped their price target on shares of Chemed from $604.00 to $712.00 and gave the stock an outperform rating in a research note on Monday, March 4th.

Insider Buying and Selling at Chemed

In other news, 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 value of $7,196,910.00. Following the completion of the transaction, the vice president now owns 1,422 shares of the company’s stock, valued at approximately $917,190. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, the vice president now directly owns 1,422 shares in the company, valued at approximately $917,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael D. Witzeman sold 2,650 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the transaction, the chief financial officer now owns 2,882 shares of the company’s stock, valued at $1,853,529.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,808 shares of company stock worth $10,184,531. 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.