Chemtrade Logistics Income Fund (TSE:CHE.UN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.89 and traded as high as C$16.91. Chemtrade Logistics Income Fund shares last traded at C$16.71, with a volume of 122,467 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CHE.UN shares. Raymond James Financial raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from C$15.00 to C$21.00 in a report on Tuesday, April 28th. National Bank Financial upped their price objective on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a report on Monday, April 13th. Scotia increased their price objective on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. BMO Capital Markets upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price objective on the stock in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada lifted their target price on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$19.25.

Chemtrade Logistics Income Fund Price Performance

The company has a current ratio of 0.40, a quick ratio of 0.47 and a debt-to-equity ratio of 128.02. The firm has a market cap of C$1.88 billion, a price-to-earnings ratio of 16.22 and a beta of 0.88. The company’s 50-day moving average is C$16.52 and its 200-day moving average is C$15.89.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last announced its quarterly earnings data on Monday, May 11th. The company reported C$0.23 earnings per share (EPS) for the quarter. Chemtrade Logistics Income Fund had a net margin of 7.85% and a return on equity of 19.73%. The business had revenue of C$503.00 million for the quarter. Equities research analysts predict that Chemtrade Logistics Income Fund will post 0.9919929 earnings per share for the current year.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a yield of 4.3%. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is 67.72%.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.