Zacks Research Comments on Chemed Co.’s Q3 2023 Earnings (NYSE:CHE)

Chemed Co. (NYSE:CHE) – Zacks Research reduced their Q3 2023 EPS estimates for shares of Chemed in a research note issued on Thursday, September 14th. Zacks Research analyst U. Biswas now expects that the company will earn $4.91 per share for the quarter, down from their prior estimate of $4.93. The consensus estimate for Chemed’s current full-year earnings is $19.14 per share. Zacks Research also issued estimates for Chemed’s Q4 2023 earnings at $5.51 EPS, Q3 2024 earnings at $5.58 EPS, Q4 2024 earnings at $5.83 EPS, Q1 2025 earnings at $5.87 EPS and FY2025 earnings at $24.20 EPS.

A number of other equities analysts have also recently weighed in on the company. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research note on Wednesday, August 30th. Royal Bank of Canada decreased their price objective on shares of Chemed from $610.00 to $576.00 and set an “outperform” rating for the company in a research note on Monday, July 31st.

Chemed Trading Up 1.3 %

Shares of CHE opened at $512.26 on Monday. The business’s 50-day moving average price is $519.70 and its 200 day moving average price is $532.42. The stock has a market capitalization of $7.72 billion, a P/E ratio of 34.15, a P/E/G ratio of 3.01 and a beta of 0.53. Chemed has a 1-year low of $430.16 and a 1-year high of $574.66.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $4.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.09 by ($0.38). The company had revenue of $553.80 million during the quarter, compared to the consensus estimate of $562.54 million. Chemed had a net margin of 10.36% and a return on equity of 34.65%. Chemed’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.84 EPS.

Chemed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, August 11th. This is a positive change from Chemed’s previous quarterly dividend of $0.38. Chemed’s dividend payout ratio is currently 10.67%.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $516.43, for a total value of $2,065,720.00. Following the transaction, the chief executive officer now owns 115,571 shares in the company, valued at $59,684,331.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.03% of the company’s stock.

Hedge Funds Weigh In On Chemed

Several institutional investors have recently bought and sold shares of CHE. BlackRock Inc. grew its holdings in Chemed by 1.5% during the second quarter. BlackRock Inc. now owns 1,415,756 shares of the company’s stock valued at $766,873,000 after purchasing an additional 21,237 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Chemed by 11.8% during the first quarter. William Blair Investment Management LLC now owns 560,741 shares of the company’s stock valued at $301,538,000 after purchasing an additional 59,149 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Chemed by 1.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 516,636 shares of the company’s stock valued at $279,846,000 after purchasing an additional 6,310 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Chemed by 824.8% during the first quarter. Envestnet Asset Management Inc. now owns 477,838 shares of the company’s stock valued at $26,486,000 after purchasing an additional 426,167 shares during the last quarter. Finally, Durable Capital Partners LP grew its holdings in Chemed by 71.2% during the second quarter. Durable Capital Partners LP now owns 457,500 shares of the company’s stock valued at $247,814,000 after purchasing an additional 190,309 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors.

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 two segments, VITAS and Roto-Rooter. 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.