Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares 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 traded.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$15.00 to C$21.00 in a research note on Tuesday, April 28th. BMO Capital Markets raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price objective on the stock in a report on Thursday, April 23rd. 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 note on Thursday, May 14th. National Bank Financial lifted their target price on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Royal Bank Of Canada boosted their price objective on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$19.25.

Chemtrade Logistics Income Fund Stock Performance

The stock has a market cap of C$1.89 billion, a P/E ratio of 16.29 and a beta of 0.88. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.47. The stock’s 50 day simple moving average is C$16.40 and its two-hundred day simple moving average is C$16.01.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last issued its quarterly earnings data on Monday, May 11th. The company reported C$0.23 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$503.00 million during the quarter. As a group, research analysts forecast that Chemtrade Logistics Income Fund will post 0.9919929 EPS for the current year.

Chemtrade Logistics Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 29th were paid a $0.06 dividend. 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 dividend payout ratio (DPR) is currently 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.