Parkland (TSE:PKI) PT Lowered to C$53.00 at TD Securities

Parkland (TSE:PKI) had its price objective reduced by TD Securities from C$55.00 to C$53.00 in a research report report published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. CIBC dropped their target price on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. ATB Capital dropped their target price on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Desjardins dropped their target price on shares of Parkland from C$48.00 to C$46.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, National Bankshares decreased their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Parkland has a consensus rating of “Moderate Buy” and an average target price of C$49.92.

Parkland Trading Up 0.3 %

TSE:PKI opened at C$35.43 on Wednesday. Parkland has a 12 month low of C$34.17 and a 12 month high of C$47.99. The company has a 50 day simple moving average of C$35.59 and a two-hundred day simple moving average of C$38.23. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 206.76. The company has a market cap of C$6.17 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland (TSE:PKI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.06. Parkland had a net margin of 1.23% and a return on equity of 12.26%. The firm had revenue of C$7.50 billion during the quarter, compared to the consensus estimate of C$7.92 billion. Research analysts forecast that Parkland will post 3.6022267 earnings per share for the current year.

Parkland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Thursday, September 19th. Parkland’s dividend payout ratio is 65.73%.

Insider Activity

In other Parkland news, Senior Officer Marcel Teunissen bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. Corporate insiders own 20.51% of the company’s stock.

About Parkland

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.