Chemed (NYSE:CHE) Releases FY 2024 Earnings Guidance

Chemed (NYSE:CHE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 23.300-23.700 for the period, compared to the consensus 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 issued reports on CHE. Oppenheimer lifted their target price on Chemed from $625.00 to $650.00 and gave the company an outperform rating in a research report on Thursday, February 29th. Royal Bank of Canada boosted their price target on Chemed from $604.00 to $712.00 and gave the stock an outperform rating in a research report on Monday, March 4th.

Chemed Stock Performance

Shares of Chemed stock traded up $1.44 on Wednesday, hitting $617.95. The stock had a trading volume of 67,370 shares, compared to its average volume of 77,478. The stock has a 50 day moving average of $623.23 and a 200 day moving average of $590.47. Chemed has a twelve month low of $492.84 and a twelve month high of $654.62. The firm has a market capitalization of $9.34 billion, a P/E ratio of 34.47, a PEG ratio of 2.43 and a beta of 0.42.

Chemed (NYSE:CHE) last released its quarterly earnings data on Tuesday, February 27th. The company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.25 by $0.35. Chemed had a return on equity of 32.29% and a net margin of 12.03%. The company had revenue of $585.90 million during the quarter, compared to the consensus estimate of $586.64 million. During the same quarter in the prior year, the firm posted $5.39 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Chemed will post 21.99 earnings per share for the current year.

Chemed Announces Dividend

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 dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.26%. Chemed’s dividend payout ratio (DPR) is presently 8.93%.

Insider Activity

In related 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 transaction of $7,196,910.00. Following the completion of 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 filing with the SEC, which is available through this link. 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 sale, the vice president now directly owns 1,422 shares in the company, valued at $917,190. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael D. Witzeman sold 2,650 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $643.14, for a total value of $1,704,321.00. Following the completion of the sale, 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. Over the last three months, insiders have sold 15,808 shares of company stock valued at $10,184,531. Company 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.