Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$14.71 and traded as high as C$14.92. Chemtrade Logistics Income Fund shares last traded at C$14.81, with a volume of 257,126 shares changing hands.

Analysts Set New Price Targets

Separately, Desjardins upped their price target on Chemtrade Logistics Income Fund from C$17.25 to C$18.50 and gave the company a “buy” rating in a research report on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$19.56.

Chemtrade Logistics Income Fund Trading Up 0.8%

The company’s 50 day moving average price is C$14.71 and its two-hundred day moving average price is C$15.76. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.47. The stock has a market capitalization of C$1.66 billion, a PE ratio of 11.66 and a beta of 0.86.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$578.70 million during the quarter. Chemtrade Logistics Income Fund had a return on equity of 19.73% and a net margin of 7.85%. As a group, analysts expect that Chemtrade Logistics Income Fund will post 0.99 earnings per share for the current year.

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were given a $0.06 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.9%. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is 55.51%.

Chemtrade Logistics Income Fund Company Profile

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also one of the largest producers of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, and zinc oxide.