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

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) passed above its 50-day moving average during trading on Friday. The stock has a 50-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 traded.

Wall Street Analysts Forecast Growth

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

Chemtrade Logistics Income Fund Trading Up 0.8%

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 firm has a market cap of C$1.66 billion, a P/E ratio of 11.66 and a beta of 0.86. The firm’s 50-day simple moving average is C$14.71 and its 200 day simple moving average is C$15.76.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last released its earnings results on Wednesday, August 12th. The company reported C$0.31 earnings per share for the quarter. The firm had revenue of C$578.70 million during the quarter. Chemtrade Logistics Income Fund had a net margin of 7.85% and a return on equity of 19.73%. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued 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 is 55.51%.

About Chemtrade Logistics Income Fund

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.