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 (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.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Oppenheimer lifted their price target on Chemed from $625.00 to $650.00 and gave the company an outperform rating in a research note on Thursday, February 29th. 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 research note on Monday, March 4th.

Chemed Price Performance

CHE traded up $1.05 during trading hours on Wednesday, reaching $617.56. The company’s stock had a trading volume of 67,370 shares, compared to its average volume of 77,478. Chemed has a fifty-two week low of $492.84 and a fifty-two week high of $654.62. The stock has a market cap of $9.34 billion, a PE ratio of 34.46, a P/E/G ratio of 2.43 and a beta of 0.42. The business’s 50-day moving average is $623.23 and its 200-day moving average is $590.47.

Chemed (NYSE:CHE) last released its quarterly earnings data on Tuesday, February 27th. The company reported $6.60 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 firm had revenue of $585.90 million for the quarter, compared to analysts’ expectations of $586.64 million. During the same period in the prior year, the firm posted $5.39 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Chemed will post 21.99 EPS for the current year.

Chemed Announces Dividend

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

Insider Activity

In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the sale, the vice president now owns 1,422 shares of the company’s stock, valued at approximately $917,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction that occurred on 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 of the company’s stock, valued at $13,320,654. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,808 shares of company stock worth $10,184,531. Corporate 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.