Research Analysts Offer Predictions for Parkland Co.’s Q1 2024 Earnings (TSE:PKI)

Parkland Co. (TSE:PKI) – Analysts at Atb Cap Markets decreased their Q1 2024 earnings per share estimates for Parkland in a research report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings per share of $0.09 for the quarter, down from their prior forecast of $0.61. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Atb Cap Markets also issued estimates for Parkland’s FY2024 earnings at $2.90 EPS.

A number of other analysts have also commented on PKI. Royal Bank of Canada dropped their price target on Parkland from C$54.00 to C$50.00 in a report on Monday, April 15th. National Bankshares lifted their price target on Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. BMO Capital Markets dropped their price target on Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Scotiabank raised their target price on Parkland from C$50.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. decreased their target price on Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Parkland presently has a consensus rating of “Moderate Buy” and a consensus target price of C$51.69.

Parkland Stock Down 1.1 %

PKI stock opened at C$42.67 on Friday. Parkland has a twelve month low of C$30.52 and a twelve month 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. The stock’s 50 day moving average is C$43.58 and its 200-day moving average is C$43.57. The firm has a market capitalization of C$7.50 billion, a PE ratio of 16.22, a P/E/G ratio of 11.79 and a beta of 1.38.

Parkland (TSE:PKI) last posted its earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share 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 for the quarter, compared to analyst estimates of C$8.41 billion.

Parkland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 21st. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.28%. Parkland’s payout ratio is presently 53.23%.

Insiders Place Their Bets

In other news, Senior Officer Darren Robert Smart sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total transaction of C$43,000.00. In other news, Senior Officer Darren Robert Smart sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total transaction of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of Parkland stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$44.59, for a total transaction of C$334,431.00. Insiders sold a total of 42,392 shares of company stock valued at $1,867,999 in the last quarter. 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.