Parkland Co. (TSE:PKI) Forecasted to Earn Q2 2024 Earnings of $0.96 Per Share

Parkland Co. (TSE:PKI) – Scotiabank issued their Q2 2024 earnings per share (EPS) estimates for shares of Parkland in a note issued to investors on Monday, May 6th. Scotiabank analyst B. Isaacson anticipates that the company will post earnings of $0.96 per share for the quarter. 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. Scotiabank also issued estimates for Parkland’s FY2025 earnings at $3.77 EPS.

Several other analysts have also recently commented on PKI. Royal Bank of Canada decreased their price target on shares of Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. JPMorgan Chase & Co. lowered their target price on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. BMO Capital Markets dropped their target price on Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. National Bankshares raised their price target on Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. Finally, CIBC dropped their price objective 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. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$51.54.

Parkland Stock Down 0.1 %

Shares of TSE:PKI opened at C$40.55 on Tuesday. 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 firm has a market cap of C$7.13 billion, a P/E ratio of 15.42, a P/E/G ratio of 11.79 and a beta of 1.38. Parkland has a 12 month low of C$32.14 and a 12 month high of C$47.99. The company’s 50-day moving average price is C$42.72 and its two-hundred day moving average price is C$43.69.

Parkland (TSE:PKI) last posted its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 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 company had revenue of C$7.75 billion for the quarter, compared to analyst estimates of C$8.41 billion.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were paid a dividend of $0.35 per share. 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 yield of 3.45%. Parkland’s dividend payout ratio (DPR) is presently 53.23%.

Insider Activity at Parkland

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 shares were sold at an average price of C$43.75, for a total value of C$328,125.00. In other Parkland news, Senior Officer Darren Robert Smart sold 1,000 shares of the firm’s stock in a transaction that occurred 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 that occurred on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total transaction of C$328,125.00. Over the last 90 days, insiders sold 42,392 shares of company stock worth $1,867,999. 20.51% of the stock is currently owned by company insiders.

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.