Chemed (NYSE:CHE) Issues FY 2024 Earnings Guidance

Chemed (NYSE:CHE) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 23.300-23.700 for the period, compared to the consensus EPS estimate of 23.520. The company issued revenue guidance of -. Chemed also updated its FY24 guidance to $23.30-23.70 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on CHE. StockNews.com lowered Chemed from a buy rating to a hold rating in a report on Friday. Oppenheimer boosted their target price on Chemed from $625.00 to $650.00 and gave the company an outperform rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada boosted their target price on Chemed from $604.00 to $712.00 and gave the company an outperform rating in a research note on Monday, March 4th.

Chemed Stock Down 2.3 %

Shares of NYSE:CHE traded down $12.92 during midday trading on Friday, reaching $560.42. 102,418 shares of the company traded hands, compared to its average volume of 69,274. The firm’s fifty day moving average price is $623.29 and its two-hundred day moving average price is $590.84. Chemed has a 12 month low of $492.84 and a 12 month high of $654.62. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.30 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 12.36% and a return on equity of 30.52%. The company had revenue of $589.23 million during the quarter, compared to the consensus estimate of $587.18 million. Analysts forecast that Chemed will post 21.99 earnings per share for the current 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 0.29%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio (DPR) is presently 8.61%.

Insider Buying and Selling at Chemed

In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. In other news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, 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 can be accessed through this hyperlink. Also, EVP Spencer S. Lee sold 2,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The disclosure for this sale can be found here. Insiders sold 15,808 shares of company stock valued at $10,184,531 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.