Analysts Anticipate Chemed Corp. (CHE) Will Announce Earnings of $2.00 Per Share
Wall Street brokerages forecast that Chemed Corp. (NYSE:CHE) will report earnings of $2.00 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Chemed Corp.’s earnings, with the lowest EPS estimate coming in at $1.97 and the highest estimate coming in at $2.02. Chemed Corp. reported earnings per share of $1.73 during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.6%. The company is expected to issue its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that Chemed Corp. will report full-year earnings of $8.20 per share for the current fiscal year, with EPS estimates ranging from $8.17 to $8.23. For the next year, analysts anticipate that the firm will report earnings of $8.86 per share, with EPS estimates ranging from $8.61 to $9.10. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Chemed Corp..
Chemed Corp. (NYSE:CHE) last announced its earnings results on Tuesday, July 25th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. The company had revenue of $415.06 million during the quarter, compared to analysts’ expectations of $407.56 million. Chemed Corp. had a net margin of 4.16% and a return on equity of 26.18%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.80 earnings per share.
CHE has been the subject of a number of recent research reports. TheStreet downgraded Chemed Corp. from a “b+” rating to a “c+” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and issued a $209.00 price target on shares of Chemed Corp. in a research note on Friday, September 1st. KeyCorp initiated coverage on Chemed Corp. in a research note on Monday, August 28th. They issued a “sector weight” rating on the stock. Zacks Investment Research cut Chemed Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. increased their price objective on Chemed Corp. from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $214.00.
In related news, Director George J. Walsh III purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were bought at an average price of $204.56 per share, for a total transaction of $204,560.00. Following the completion of the transaction, the director now owns 7,908 shares of the company’s stock, valued at $1,617,660.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin J. Mcnamara sold 15,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $201.16, for a total value of $3,017,400.00. Following the completion of the transaction, the insider now owns 173,801 shares in the company, valued at approximately $34,961,809.16. The disclosure for this sale can be found here. 5.32% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Chemed Corp. by 145,760.9% in the first quarter. BlackRock Inc. now owns 1,955,994 shares of the company’s stock worth $357,341,000 after purchasing an additional 1,954,653 shares during the period. Vanguard Group Inc. increased its position in shares of Chemed Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 1,830,711 shares of the company’s stock worth $374,435,000 after purchasing an additional 34,938 shares during the period. Neuberger Berman Group LLC increased its position in shares of Chemed Corp. by 2.2% in the first quarter. Neuberger Berman Group LLC now owns 1,060,403 shares of the company’s stock worth $193,725,000 after purchasing an additional 23,306 shares during the period. Acadian Asset Management LLC increased its position in shares of Chemed Corp. by 1.3% in the second quarter. Acadian Asset Management LLC now owns 579,170 shares of the company’s stock worth $118,454,000 after purchasing an additional 7,636 shares during the period. Finally, State Street Corp increased its position in shares of Chemed Corp. by 1.8% in the second quarter. State Street Corp now owns 453,605 shares of the company’s stock worth $92,782,000 after purchasing an additional 8,238 shares during the period. Institutional investors own 96.96% of the company’s stock.
Chemed Corp. (NYSE CHE) traded down 0.51% during mid-day trading on Friday, hitting $192.46. 95,414 shares of the company traded hands. Chemed Corp. has a one year low of $132.92 and a one year high of $216.01. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 47.64 and a beta of 1.14. The company’s 50-day moving average price is $195.02 and its 200 day moving average price is $195.17.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were given a dividend of $0.28 per share. This is a boost from Chemed Corp.’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, August 10th. This represents a $1.12 annualized dividend and a yield of 0.58%. Chemed Corp.’s dividend payout ratio (DPR) is presently 28.07%.
About Chemed Corp.
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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