Parkland Co. (TSE:PKI) to Post Q1 2024 Earnings of $0.09 Per Share, Atb Cap Markets Forecasts

Parkland Co. (TSE:PKI) – Research analysts at Atb Cap Markets reduced their Q1 2024 earnings per share estimates for Parkland in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will earn $0.09 per share 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 recently issued reports on the company. Royal Bank of Canada decreased their target price on Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. JPMorgan Chase & Co. dropped their price target on Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Scotiabank upped their price objective on Parkland from C$50.00 to C$60.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. TD Securities lifted their target price on Parkland from C$52.00 to C$53.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, National Bankshares boosted their target price 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 company. According to data from MarketBeat, Parkland currently has a consensus rating of “Moderate Buy” and an average price target of C$51.69.

Parkland Price Performance

Shares of PKI opened at C$42.67 on Friday. The firm has a fifty day moving average price of C$43.52 and a 200 day moving average price of C$43.62. The stock has a market cap of C$7.50 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. Parkland has a 1-year low of C$30.52 and a 1-year high of C$47.99. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73.

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, beating the consensus estimate of C$0.64 by C$0.20. The business had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a net margin of 1.45% and a return on equity of 15.15%.

Insiders Place Their Bets

In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total value of C$484,000.00. In related news, Senior Officer Darren Robert Smart sold 5,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$44.66, for a total value of C$223,304.50. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the company’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 the last ninety days, insiders have sold 42,392 shares of company stock worth $1,867,999. Corporate insiders own 20.51% of the company’s stock.

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. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s 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.