Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Breaks Above 50 Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$14.82 and traded as high as C$14.90. Chemtrade Logistics Income Fund shares last traded at C$14.83, with a volume of 157,413 shares changing hands.

Wall Street Analyst Weigh In

Separately, Desjardins increased their price target on shares of Chemtrade Logistics Income Fund from C$17.25 to C$18.50 and gave the stock a “buy” rating in a report on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.56.

Chemtrade Logistics Income Fund Price Performance

The company has a quick ratio of 0.47, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The stock’s 50 day moving average price is C$14.82 and its two-hundred day moving average price is C$15.78. The stock has a market cap of C$1.66 billion, a price-to-earnings ratio of 11.68 and a beta of 0.81.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last posted its earnings results on Wednesday, August 12th. The company reported C$0.31 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 company had revenue of C$578.70 million during the quarter. Equities research analysts forecast that Chemtrade Logistics Income Fund will post 0.99 EPS for the current fiscal year.

Chemtrade Logistics Income Fund Dividend Announcement

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