Chemed Corp. to Issue Dividend of $0.28 (CHE)
Chemed Corp. (NYSE:CHE) declared a dividend on Friday, November 3rd, Fidelity reports. Investors of record on Monday, November 13th will be paid a dividend of 0.28 per share on Monday, December 4th. The ex-dividend date of this dividend is Friday, November 10th.
Chemed Corp. has raised its dividend by an average of 9.6% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Chemed Corp. has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chemed Corp. to earn $8.91 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 12.6%.
Shares of Chemed Corp. (NYSE:CHE) traded up $10.56 during trading on Friday, reaching $235.01. 126,539 shares of the company were exchanged, compared to its average volume of 92,810. The stock has a market capitalization of $3.67 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 4.86 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.48 and a current ratio of 0.50.
Chemed Corp. (NYSE:CHE) last announced its quarterly earnings data on Thursday, October 26th. The company reported $2.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.15. The firm had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $414.34 million. Chemed Corp. had a return on equity of 27.69% and a net margin of 4.62%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. equities research analysts expect that Chemed Corp. will post 4.73 EPS for the current fiscal year.
A number of analysts have recently commented on CHE shares. KeyCorp reaffirmed a “hold” rating on shares of Chemed Corp. in a research note on Friday, October 27th. Zacks Investment Research cut Chemed Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $209.00 price target on shares of Chemed Corp. in a research note on Tuesday, October 3rd. BidaskClub lowered Chemed Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. boosted their price objective on Chemed Corp. from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $236.00.
In related news, CEO Kevin J. Mcnamara sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $223.42, for a total value of $2,234,200.00. Following the completion of the transaction, the chief executive officer now directly owns 170,016 shares in the company, valued at approximately $37,984,974.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Naomi C. Dallob sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $222.09, for a total value of $166,567.50. Following the completion of the transaction, the vice president now owns 9,097 shares of the company’s stock, valued at $2,020,352.73. The disclosure for this sale can be found here. Insiders sold a total of 13,250 shares of company stock valued at $2,927,418 over the last quarter. 4.90% of the stock is owned by insiders.
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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