Chemed (CHE) Set to Announce Earnings on Wednesday

Chemed (NYSE:CHE) will be announcing its earnings results 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 that are interested in participating in the company’s earnings conference call can do so using this link.

Chemed (NYSE:CHE) last issued its earnings results on Tuesday, February 27th. The company reported $6.60 earnings per share for the quarter, topping the consensus estimate of $6.25 by $0.35. The business had revenue of $585.90 million during the quarter, compared to analysts’ expectations of $586.64 million. Chemed had a return on equity of 32.29% and a net margin of 12.03%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $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 Price Performance

CHE stock opened at $600.41 on Monday. Chemed has a 1-year low of $492.84 and a 1-year high of $654.62. The business has a 50-day moving average price of $622.02 and a 200 day moving average price of $589.10. The company has a market capitalization of $9.08 billion, a P/E ratio of 33.51, a PEG ratio of 2.41 and a beta of 0.42.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 yield of 0.27%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio (DPR) is 8.93%.

Analyst Upgrades and Downgrades

CHE has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Oppenheimer increased 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.

Insiders Place Their Bets

In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the sale, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Brian C. Judkins sold 11,158 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly 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 is available at this link. Also, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the completion of the sale, the executive vice president now owns 20,760 shares of the company’s stock, valued at $13,320,654. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,808 shares of company stock worth $10,184,531. 4.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHE. BlackRock Inc. raised its stake in Chemed by 0.5% in the 1st quarter. BlackRock Inc. now owns 1,350,527 shares of the company’s stock worth $684,111,000 after acquiring an additional 6,546 shares during the last quarter. State Street Corp increased its holdings in shares of Chemed by 0.4% in the second quarter. State Street Corp now owns 443,937 shares of the company’s stock valued at $240,467,000 after purchasing an additional 1,577 shares during the period. Wellington Management Group LLP raised its stake in shares of Chemed by 0.3% in the first quarter. Wellington Management Group LLP now owns 416,960 shares of the company’s stock worth $211,210,000 after purchasing an additional 1,233 shares during the last quarter. Morgan Stanley raised its stake in shares of Chemed by 1.1% in the third quarter. Morgan Stanley now owns 407,958 shares of the company’s stock worth $212,017,000 after purchasing an additional 4,264 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Chemed by 0.9% during the first quarter. JPMorgan Chase & Co. now owns 247,375 shares of the company’s stock worth $133,026,000 after purchasing an additional 2,260 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Company Profile

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.