Chemed (NYSE:CHE) Issues FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHE. StockNews.com cut Chemed from a buy rating to a hold rating in a report on Friday. 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. Finally, Royal Bank of Canada upped 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.

Chemed Stock Down 2.3 %

NYSE CHE traded down $12.92 on Friday, reaching $560.42. The company had a trading volume of 102,418 shares, compared to its average volume of 69,274. The stock has a market capitalization of $8.47 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.30 and a beta of 0.42. The company’s fifty day moving average is $623.29 and its 200 day moving average is $590.84. Chemed has a 52-week low of $492.84 and a 52-week high of $654.62.

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

Chemed Announces Dividend

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

Insider Transactions at Chemed

In other news, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chemed news, CFO Michael D. Witzeman sold 2,650 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was 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 owns 2,882 shares in the company, valued at approximately $1,853,529.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the firm’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 completion of the transaction, the executive vice president now owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,808 shares of company stock worth $10,184,531. 3.32% of the stock is owned by company insiders.

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.