Select Medical (NYSE:SEM) Issues FY 2024 Earnings Guidance

Select Medical (NYSE:SEM) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.960-2.200 for the period, compared to the consensus estimate of 2.120. The company issued revenue guidance of $6.9 billion-$7.1 billion, compared to the consensus revenue estimate of $7.0 billion. Select Medical also updated its FY24 guidance to $1.96-2.20 EPS.

Select Medical Trading Down 12.8 %

Shares of NYSE:SEM traded down $5.00 during midday trading on Friday, reaching $34.18. 2,367,259 shares of the company’s stock were exchanged, compared to its average volume of 708,812. The firm’s 50 day simple moving average is $35.77 and its two-hundred day simple moving average is $31.13. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.78 and a beta of 1.43. Select Medical has a fifty-two week low of $21.28 and a fifty-two week high of $40.50.

Select Medical (NYSE:SEM) last announced its earnings results on Thursday, August 1st. The health services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Select Medical had a return on equity of 17.88% and a net margin of 3.91%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business posted $0.61 EPS. Select Medical’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Select Medical will post 2.19 EPS for the current fiscal year.

Select Medical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, August 14th. Select Medical’s payout ratio is presently 23.81%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SEM. Benchmark reiterated a buy rating and issued a $48.00 price objective on shares of Select Medical in a research note on Friday. Royal Bank of Canada boosted their target price on Select Medical from $36.00 to $40.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Select Medical has a consensus rating of Moderate Buy and an average price target of $36.50.

Select Medical Company Profile

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.