FY2024 EPS Estimates for Parkland Co. Increased by Analyst (TSE:PKI)

Parkland Co. (TSE:PKI) – Equities researchers at Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of Parkland in a research note issued to investors on Monday, May 6th. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings of $3.29 per share for the year, up from their previous forecast of $2.99. Scotiabank currently has a “Outperform” rating and a $60.00 target price on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. JPMorgan Chase & Co. dropped their target price on Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. TD Securities lifted their price target on Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. CIBC cut their price objective on shares of Parkland from C$57.00 to C$55.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, BMO Capital Markets lowered their target price on shares of Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Parkland has a consensus rating of “Moderate Buy” and an average price target of C$51.54.

Parkland Price Performance

Parkland stock opened at C$39.99 on Wednesday. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.29. The company has a market capitalization of C$7.03 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The company’s 50 day simple moving average is C$42.57 and its 200-day simple moving average is C$43.64. Parkland has a 1 year low of C$32.14 and a 1 year high of C$47.99.

Parkland (TSE:PKI) last released its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.64 by C$0.20. The business had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%.

Parkland Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were given a $0.35 dividend. This is a boost from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.50%. Parkland’s dividend payout ratio is presently 53.23%.

Insiders Place Their Bets

In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total value of C$484,000.00. In other Parkland news, Senior Officer Darren Robert Smart sold 5,000 shares of the company’s 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 value of C$223,304.50. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total transaction of C$484,000.00. In the last ninety days, insiders have sold 42,392 shares of company stock worth $1,867,999. Corporate 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.