Analysts Issue Forecasts for Parkland Co.’s Q2 2024 Earnings (TSE:PKI)

Parkland Co. (TSE:PKI) – Scotiabank issued their Q2 2024 earnings per share (EPS) estimates for shares of Parkland in a report released on Monday, May 6th. Scotiabank analyst B. Isaacson anticipates that the company will post earnings of $0.96 per share for the quarter. Scotiabank has a “Outperform” rating and a $60.00 price target on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Scotiabank also issued estimates for Parkland’s FY2025 earnings at $3.77 EPS.

A number of other equities analysts also recently commented on the stock. TD Securities boosted their target price on shares of Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. CIBC decreased their target price on shares of Parkland from C$57.00 to C$55.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut their price target on shares of Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. National Bankshares increased their price objective on Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. Finally, Royal Bank of Canada lowered their price objective on Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Parkland currently has an average rating of “Moderate Buy” and an average price target of C$51.54.

Parkland Trading Up 1.1 %

TSE:PKI opened at C$40.61 on Tuesday. 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 firm has a 50-day simple moving average of C$42.86 and a 200-day simple moving average of C$43.70. Parkland has a one year low of C$32.14 and a one year high of C$47.99. The firm has a market cap of C$7.14 billion, a P/E ratio of 15.44, a P/E/G ratio of 11.79 and a beta of 1.38.

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

Parkland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were given a $0.35 dividend. This is a positive change 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 dividend yield of 3.45%. Parkland’s dividend payout ratio (DPR) is 53.23%.

Insider Buying and Selling

In related news, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total transaction of C$484,000.00. In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of Parkland stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. Also, Senior Officer Darren Robert Smart sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$44.66, for a total value of C$223,304.50. In the last three months, insiders have sold 42,392 shares of company stock worth $1,867,999. 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.