Chemed (NYSE:CHE) Issues FY24 Earnings Guidance

Chemed (NYSE:CHE) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $23.55-23.80 for the period, compared to the consensus EPS estimate of $23.21. Chemed also updated its FY 2024 guidance to 23.550-23.800 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Royal Bank of Canada decreased their target price on Chemed from $712.00 to $697.00 and set an outperform rating on the stock in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Chemed from a hold rating to a buy rating in a research report on Saturday, May 4th.

Chemed Price Performance

Shares of Chemed stock traded down $6.51 on Thursday, reaching $540.97. The company had a trading volume of 225,113 shares, compared to its average volume of 85,353. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.23 and a beta of 0.43. The firm’s 50-day moving average price is $544.12 and its two-hundred day moving average price is $583.59. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62.

Chemed (NYSE:CHE) last released its quarterly earnings results on Wednesday, July 24th. The company reported $5.47 EPS for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12). Chemed had a return on equity of 30.52% and a net margin of 12.36%. The firm had revenue of $595.88 million for the quarter, compared to analysts’ expectations of $599.20 million. During the same period in the prior year, the firm posted $4.71 earnings per share. Chemed’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts anticipate that Chemed will post 21.54 EPS for the current year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Thursday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.30%. Chemed’s payout ratio is 8.61%.

Insiders Place Their Bets

In related news, Director Patrick P. Grace sold 284 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the sale, the director now owns 3,270 shares in the company, valued at $1,769,004.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chemed news, Director Patrick P. Grace sold 284 shares of Chemed stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total value of $153,638.32. Following the transaction, the director now owns 3,270 shares in the company, valued at $1,769,004.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the transaction, the chief executive officer now owns 108,549 shares of the company’s stock, valued at approximately $61,605,899.46. The disclosure for this sale can be found here. Insiders have sold 5,784 shares of company stock worth $3,240,053 in the last three months. 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.