Chemed (NYSE:CHE) Updates FY24 Earnings Guidance

Chemed (NYSE:CHE) updated its FY24 earnings guidance on Wednesday. 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 also updated its FY 2024 guidance to 23.300-23.700 EPS.

Analyst Upgrades and Downgrades

CHE has been the topic of several research analyst reports. Oppenheimer boosted their target price 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. Royal Bank of Canada lifted their price target on shares of Chemed from $604.00 to $712.00 and gave the company an outperform rating in a research report on Monday, March 4th.

Chemed Price Performance

Shares of NYSE CHE traded up $1.05 on Wednesday, hitting $617.56. The company’s stock had a trading volume of 67,370 shares, compared to its average volume of 77,478. The stock has a 50 day moving average of $623.23 and a 200-day moving average of $590.47. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 2.43 and a beta of 0.42. Chemed has a 12-month low of $492.84 and a 12-month high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings results 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. Chemed had a return on equity of 32.29% and a net margin of 12.03%. The company had revenue of $585.90 million during the quarter, compared to the consensus estimate of $586.64 million. During the same period in the previous year, the firm posted $5.39 EPS. Chemed’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Chemed will post 21.99 EPS for the current fiscal year.

Chemed Announces Dividend

The business also recently disclosed 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 dividend yield of 0.26%. The ex-dividend date was Friday, February 23rd. Chemed’s dividend payout ratio is presently 8.93%.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 2,000 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Michael D. Witzeman sold 2,650 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 2,882 shares in the company, valued at approximately $1,853,529.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 20,760 shares of the company’s stock, valued at $13,320,654. The disclosure for this sale can be found here. In the last ninety days, insiders have 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.