Chemed (NYSE:CHE) Issues FY24 Earnings Guidance

Chemed (NYSE:CHE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $23.30-23.70 for the period, compared to the consensus earnings per share estimate of $23.52.

Chemed Trading Up 0.2 %

CHE stock traded up $1.44 during mid-day trading on Wednesday, hitting $617.95. 66,977 shares of the company were exchanged, compared to its average volume of 77,304. The company has a market capitalization of $9.34 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.43 and a beta of 0.42. Chemed has a twelve month low of $492.84 and a twelve month high of $654.62. The firm has a fifty day simple moving average of $623.23 and a 200 day simple moving average of $590.47.

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

Chemed Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on CHE. Oppenheimer boosted their price target 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 objective 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 Transactions at Chemed

In other news, VP Brian C. Judkins sold 11,158 shares of Chemed 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 transaction, the vice president now directly owns 1,422 shares of the company’s stock, valued at $917,190. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 transaction of $7,196,910.00. Following the transaction, the vice president now directly owns 1,422 shares of the company’s stock, valued at $917,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The disclosure for this sale can be found here. Insiders have sold a total of 15,808 shares of company stock valued at $10,184,531 over the last ninety days. 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.