Royal Bank of Canada Trims Parkland (TSE:PKI) Target Price to C$50.00

Parkland (TSE:PKI) had its price objective cut by Royal Bank of Canada from C$54.00 to C$50.00 in a report issued on Monday morning, BayStreet.CA reports.

PKI has been the topic of several other research reports. CIBC increased their price target on Parkland from C$50.00 to C$57.00 and gave the company an outperform rating in a report on Tuesday, December 19th. National Bankshares cut their price objective on Parkland from C$50.00 to C$49.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. BMO Capital Markets dropped their price target on Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. TD Securities increased their price target on Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. increased their price target on Parkland from C$51.00 to C$56.00 and gave the stock an overweight rating in a research report on Monday, March 25th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Parkland presently has a consensus rating of Moderate Buy and an average price target of C$51.46.

Parkland Trading Up 0.5 %

Parkland stock opened at C$43.02 on Monday. The business has a 50-day simple moving average of C$43.88 and a two-hundred day simple moving average of C$43.45. The company has a market cap of C$7.56 billion, a P/E ratio of 16.36, a P/E/G ratio of 11.79 and a beta of 1.38. Parkland has a 52-week low of C$30.29 and a 52-week high of C$47.99. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87.

Parkland (TSE:PKI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.64 by C$0.20. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The company had revenue of C$7.75 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Analysts predict that Parkland will post 3.302673 EPS for the current year.

Parkland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were paid a $0.35 dividend. The ex-dividend date was Thursday, March 21st. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.25%. Parkland’s payout ratio is currently 53.23%.

Insider Transactions at Parkland

In related news, Senior Officer Darren Robert Smart sold 5,000 shares of Parkland stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$44.66, for a total transaction of C$223,304.50. In related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$43.75, for a total transaction of C$328,125.00. Also, Senior Officer Darren Robert Smart sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$44.66, for a total value of C$223,304.50. Insiders have sold 42,392 shares of company stock valued at $1,867,999 over the last ninety days. Insiders own 20.51% of the company’s stock.

Parkland Company Profile

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company's Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.