Chemtrade Logistics Income Fund (TSE:CHE.UN) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.99 and traded as high as C$16.53. Chemtrade Logistics Income Fund shares last traded at C$16.00, with a volume of 439,599 shares trading hands.

Wall Street Analysts Forecast Growth

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

Chemtrade Logistics Income Fund Trading Down 3.1%

The firm's 50 day simple moving average is C$16.39 and its 200-day simple moving average is C$15.99. The company has a market capitalization of C$1.80 billion, a PE ratio of 15.53 and a beta of 0.88. The company has a quick ratio of 0.47, a current ratio of 0.40 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported C$0.23 EPS for the quarter. The business had revenue of C$503.00 million for the quarter. Chemtrade Logistics Income Fund had a net margin of 7.85% and a return on equity of 19.73%. As a group, equities research analysts anticipate that Chemtrade Logistics Income Fund will post 0.9919929 EPS for the current year.

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 29th were given 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 4.5%. Chemtrade Logistics Income Fund's dividend payout ratio (DPR) is 67.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.