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

Parkland Co. (TSE:PKI) – Research analysts at Scotiabank increased their FY2024 EPS estimates for Parkland in a report issued on Monday, May 6th. Scotiabank analyst B. Isaacson now anticipates that the company will earn $3.29 per share for the year, up from their prior estimate 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.

Parkland (TSE:PKI) last issued its earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion.

PKI has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. CIBC decreased their price target on Parkland from C$57.00 to C$55.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. BMO Capital Markets cut their target price on Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. TD Securities lifted their target price on Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, National Bankshares increased their price target on Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$51.54.

Parkland Trading Down 1.3 %

Shares of TSE PKI opened at C$40.04 on Wednesday. The firm has a 50 day moving average price of C$42.63 and a two-hundred day moving average price of C$43.67. The stock has a market cap of C$7.04 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. Parkland has a 52-week low of C$32.14 and a 52-week high of C$47.99. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.29.

Insider Activity

In related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. In related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’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 Marcel Teunissen acquired 1,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of C$40.35 per share, for a total transaction of C$40,350.00. Insiders sold 42,392 shares of company stock worth $1,867,999 over the last three months. 20.51% of the stock is currently owned by insiders.

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 issued a dividend of $0.35 per share. This is an increase from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date 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%.

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.