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

Key Points

• Shares of Chemtrade Logistics Income Fund rose above their 200-day moving average, trading as high as C$16.91 and last changing hands at C$16.71.
• Analysts have turned more positive on the stock, with several firms raising price targets and ratings; the consensus view is now Moderate Buy with a target price of C$19.25.
• The company reported quarterly EPS of C$0.23 and continues paying a monthly dividend of C$0.06 per share, implying a dividend yield of about 4.3%.

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

Analysts Set New Price Targets

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

Chemtrade Logistics Income Fund Price Performance

The business has a fifty day moving average of C$16.52 and a two-hundred day moving average of C$15.89. The company has a debt-to-equity ratio of 128.02, a quick ratio of 0.47 and a current ratio of 0.40. The firm has a market capitalization of C$1.88 billion, a price-to-earnings ratio of 16.22 and a beta of 0.88.

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

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 4.3%. Chemtrade Logistics Income Fund's payout ratio is presently 67.72%.

Chemtrade Logistics Income Fund Company Profile

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.

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