Chemtrade Logistics Income Fund (TSE:CHE.UN) Issues Quarterly Earnings Results

Chemtrade Logistics Income Fund (TSE:CHE.UN) issued its earnings results on Friday. The company reported C$0.42 earnings per share for the quarter, FiscalAI reports. 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$633.10 million for the quarter.

Chemtrade Logistics Income Fund Stock Down 0.6%

Chemtrade Logistics Income Fund stock traded down C$0.09 during midday trading on Friday, reaching C$14.61. The company’s stock had a trading volume of 230,052 shares, compared to its average volume of 300,594. The company has a market cap of C$1.64 billion, a P/E ratio of 11.50 and a beta of 0.86. 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 business has a 50-day simple moving average of C$14.68 and a 200-day simple moving average of C$15.75. Chemtrade Logistics Income Fund has a fifty-two week low of C$13.29 and a fifty-two week high of C$18.43.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were paid a $0.06 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is currently 55.51%.

Analyst Ratings Changes

Separately, Desjardins boosted their price target on shares of 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$19.56.

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.