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

Key Points

• Chemtrade shares moved above their 50-day moving average, reaching C$14.90 before closing at C$14.83, up 1.7%. The stock remains below its 200-day moving average of C$15.78.
• Analyst sentiment is favorable: Desjardins raised its price target to C$18.50 and maintained a “buy” rating. Overall, analysts have a “Moderate Buy” consensus with an average target of C$19.56.
• Chemtrade reported quarterly revenue of C$578.70 million and earnings of C$0.31 per share, while maintaining a monthly dividend of C$0.06 per share—an annualized yield of approximately 4.9%.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report)'s share price 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 trading hands.

Analyst Upgrades and Downgrades

Separately, Desjardins raised their price target on 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 assigned a Hold rating to the stock. According to data from MarketBeat, Chemtrade Logistics Income Fund presently has an average rating of "Moderate Buy" and an average target price of C$19.56.

Chemtrade Logistics Income Fund Stock Up 1.7%

The company's 50 day moving average price is C$14.82 and its 200 day moving average price is C$15.78. 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 capitalization 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported C$0.31 earnings per share 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$578.70 million for the quarter. As a group, research analysts forecast that Chemtrade Logistics Income Fund will post 0.99 earnings per share for the current fiscal year.

Chemtrade Logistics Income Fund Dividend Announcement

The company 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. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 4.9%. Chemtrade Logistics Income Fund's payout ratio 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.

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