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

Select Medical (NYSE:SEM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.960-2.200 for the period, compared to the consensus EPS 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 Stock Down 12.8 %

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

Select Medical (NYSE:SEM) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. Select Medical had a net margin of 3.91% and a return on equity of 17.88%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. Select Medical’s revenue was up 5.1% compared to the same quarter last year. Equities analysts expect that Select Medical will post 2.19 EPS for the current year.

Select Medical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Wednesday, August 14th. Select Medical’s dividend payout ratio is presently 23.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada lifted their price target on Select Medical from $36.00 to $40.00 and gave the company an outperform rating in a research note on Monday, May 6th. Benchmark reaffirmed a buy rating and issued a $48.00 price objective on shares of Select Medical in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $36.50.

About Select Medical

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.