Chemed (NYSE:CHE) Posts Earnings Results, Misses Expectations By $0.12 EPS

Chemed (NYSE:CHE) released its quarterly earnings data on Wednesday. The company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12), Briefing.com reports. The business had revenue of $595.88 million during the quarter, compared to analyst estimates of $599.20 million. Chemed had a return on equity of 29.90% and a net margin of 12.88%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.71 EPS. Chemed updated its FY24 guidance to $23.55-23.80 EPS and its FY 2024 guidance to 23.550-23.800 EPS.

Chemed Trading Up 1.9 %

CHE traded up $10.12 during midday trading on Friday, hitting $551.09. 39,669 shares of the company traded hands, compared to its average volume of 85,021. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.25 and a beta of 0.43. Chemed has a 52-week low of $492.84 and a 52-week high of $654.62. The business has a 50 day simple moving average of $543.57 and a two-hundred day simple moving average of $583.29.

Chemed Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th.

Insider Buying and Selling at Chemed

In other Chemed news, Director Patrick P. Grace sold 284 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total transaction of $153,638.32. Following the transaction, the director now directly owns 3,270 shares of the company’s stock, valued at $1,769,004.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Kevin J. Mcnamara sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $567.54, for a total value of $2,270,160.00. Following the transaction, the chief executive officer now directly owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick P. Grace sold 284 shares of the firm’s stock in a transaction dated 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 directly owns 3,270 shares in the company, valued at $1,769,004.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,784 shares of company stock valued at $3,240,053 over the last ninety days. Corporate 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.