Chemed (CHE) Scheduled to Post Quarterly Earnings on Wednesday

Chemed (NYSE:CHE) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $5.09 per share for the quarter. Chemed has set its FY24 guidance at $23.30-$23.70 EPS and its FY 2024 guidance at 23.300-23.700 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $6.60 EPS for the quarter, beating the consensus estimate of $6.25 by $0.35. The business had revenue of $585.90 million during the quarter, compared to analyst estimates of $586.64 million. Chemed had a net margin of 12.03% and a return on equity of 32.29%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.39 EPS. On average, analysts expect Chemed to post $22 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Chemed Stock Down 1.2 %

CHE opened at $608.40 on Wednesday. The company’s 50-day moving average price is $621.48 and its 200 day moving average price is $587.18. Chemed has a fifty-two week low of $492.84 and a fifty-two week high of $654.62. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 2.48 and a beta of 0.42.

Chemed Dividend Announcement

The business 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, February 23rd. Chemed’s payout ratio is 8.93%.

Insider Activity

In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the sale, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction dated Wednesday, March 20th. The shares were 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 owns 1,422 shares of the company’s stock, valued at approximately $917,190. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,808 shares of company stock valued at $10,184,531. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Chemed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC bought a new position in Chemed during the 1st quarter valued at $273,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Chemed by 13.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,957 shares of the company’s stock valued at $992,000 after buying an additional 230 shares during the period. American Century Companies Inc. boosted its stake in Chemed by 7.2% during the first quarter. American Century Companies Inc. now owns 2,018 shares of the company’s stock valued at $1,022,000 after buying an additional 135 shares in the last quarter. HighTower Advisors LLC grew its holdings in Chemed by 6.2% during the first quarter. HighTower Advisors LLC now owns 836 shares of the company’s stock worth $432,000 after acquiring an additional 49 shares during the period. Finally, Panagora Asset Management Inc. raised its position in Chemed by 495.0% in the first quarter. Panagora Asset Management Inc. now owns 2,261 shares of the company’s stock worth $1,145,000 after acquiring an additional 1,881 shares in the last quarter. Institutional investors own 95.85% of the company’s stock.

Analyst Ratings Changes

CHE has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Oppenheimer upped their price target on shares of Chemed from $625.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th.

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.