A hedge-fund manager overseeing $120 million shares 4 recession-proof stocks he's betting on for 2024 — and warns the S&P 500 is priced for perfection [Business Insider]
Chemed Corp (CHE)
Last chemed corp earnings: 4/28 04:15 pm
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Source: Business Insider
Tomicki says his downbeat outlook is a matter of simple math. “When you look at valuations, you start with a 4% 10-year yield, you add 4% for an equity risk premium, which is what it has been historically, then you get a justified PE of 12.5. And currently, last 12 months, EPS are about $190,” he said. “You put a 13% growth rate on that, which is what analysts are expecting, which is by the way double the historic average, that gets you to like $220. $220 times 12.5, you do that math and you realize that's 40% lower than the S&P is today.” Tomicki continued: “Am I saying the market is going to fall 40%? Not necessarily, but you can play with the numbers. It's very hard to come up with a scenario where there's a good, strong positive return for the market, unless you think we're going into some kind of complete mania like we had in 2021 or 1999.” Currently, the S&P 500's 12-month forward PE ratio is 22.88, which, multiplied by $220 earnings per share, produces the index's curren
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News
- Chemed Co. (NYSE: CHE) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Chemed (CHE) Lags Q1 Earnings Estimates, Reaffirms 2024 View [Yahoo! Finance]Yahoo! Finance
- Chemed: Q1 Earnings Snapshot [Yahoo! Finance]Yahoo! Finance
- Chemed Reports First-Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Chemed Reports First-Quarter 2024 ResultsBusiness Wire
CHE
Earnings
- 4/24/24 - Beat
CHE
Sec Filings
- 5/1/24 - Form 4
- 4/29/24 - Form 10-Q
- 4/24/24 - Form 8-K
- CHE's page on the SEC website