Select Medical (NYSE:SEM) Releases 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 %

NYSE SEM traded down $5.00 on Friday, hitting $34.18. 2,367,259 shares of the stock traded hands, compared to its average volume of 708,812. The stock has a 50-day moving average of $35.77 and a 200 day moving average of $31.13. Select Medical has a twelve month low of $21.28 and a twelve month high of $40.50. The company has a market capitalization 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 company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.30.

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

Select Medical Announces Dividend

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

Analysts Set New Price Targets

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