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 also updated its FY 2024 guidance to 23.300-23.700 EPS.

Chemed Trading Down 6.9 %

Shares of CHE traded down $42.43 during midday trading on Thursday, reaching $575.52. The stock had a trading volume of 121,328 shares, compared to its average volume of 78,014. The company’s 50-day moving average is $624.00 and its 200 day moving average is $590.66. Chemed has a 12-month low of $492.84 and a 12-month high of $654.62. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42.

Chemed (NYSE:CHE) last released its earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.03% and a return on equity of 32.29%. The company had revenue of $589.23 million during the quarter, compared to the consensus estimate of $587.18 million. Research analysts forecast that Chemed will post 21.99 EPS for the current fiscal year.

Chemed Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio (DPR) is presently 8.93%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CHE. Royal Bank of Canada upped their price target on Chemed from $604.00 to $712.00 and gave the company an outperform rating in a research report on Monday, March 4th. Oppenheimer increased 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.

Insiders Place Their Bets

In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of Chemed 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 completion of the sale, the executive vice president now owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Spencer S. Lee sold 2,000 shares of Chemed 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 transaction, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of Chemed stock in a transaction on 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 transaction, the chief financial officer now owns 2,882 shares in the company, valued at $1,853,529.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,808 shares of company stock valued at $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.