Chemed (NYSE:CHE) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Chemed from a hold rating to a buy rating in a report on Saturday, May 4th. Royal Bank of Canada cut their price objective on Chemed from $712.00 to $697.00 and set an outperform rating for the company in a report on Tuesday, May 21st.

Chemed Stock Performance

CHE stock traded up $6.17 during trading on Wednesday, hitting $547.48. 158,571 shares of the company traded hands, compared to its average volume of 84,301. The firm has a market capitalization of $8.29 billion, a PE ratio of 29.30, a P/E/G ratio of 2.23 and a beta of 0.43. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62. The company has a 50-day moving average of $544.51 and a 200-day moving average of $583.84.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing the consensus estimate of $5.09 by ($0.41). The company had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. Chemed had a net margin of 12.36% and a return on equity of 30.52%. Sell-side analysts expect that Chemed will post 21.54 EPS for the current year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Thursday, May 30th. Chemed’s payout ratio is 8.61%.

Insider Buying and Selling at Chemed

In other Chemed news, Director Patrick P. Grace sold 284 shares of the company’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 transaction of $153,638.32. Following the completion of the transaction, the director now owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Kevin J. Mcnamara sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the completion of the transaction, the chief executive officer now owns 108,549 shares of the company’s stock, valued at approximately $61,605,899.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick P. Grace sold 284 shares of the 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 transaction, the director now directly owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The disclosure for this sale can be found here. Insiders sold 5,784 shares of company stock valued at $3,240,053 in the last 90 days. 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.