Parkland (TSE:PKI) Price Target Lowered to C$44.00 at Desjardins

Parkland (TSE:PKI) had its price target trimmed by Desjardins from C$46.00 to C$44.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of Parkland from C$48.00 to C$47.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price objective on Parkland from C$54.00 to C$53.00 in a research report on Tuesday, September 17th. Cormark decreased their target price on Parkland from C$53.00 to C$49.00 in a research report on Friday, August 2nd. BMO Capital Markets dropped their price target on Parkland from C$49.00 to C$46.00 in a research note on Tuesday. Finally, National Bankshares reduced their price objective on Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$49.54.

Parkland Price Performance

The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76. Parkland has a 52-week low of C$33.61 and a 52-week high of C$47.99. The firm has a 50 day simple moving average of C$35.54 and a 200-day simple moving average of C$38.05. The stock has a market capitalization of C$5.95 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland (TSE:PKI) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.06. Parkland had a return on equity of 12.26% and a net margin of 1.23%. The company had revenue of C$7.50 billion for the quarter, compared to analysts’ expectations of C$7.92 billion. On average, equities analysts expect that Parkland will post 3.6022267 earnings per share for the current year.

Parkland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of ?. The ex-dividend date was Thursday, September 19th. Parkland’s payout ratio is 65.73%.

Insider Activity

In other news, Senior Officer Marcel Teunissen purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of C$36.52 per share, with a total value of C$36,520.00. Insiders own 20.51% of the company’s stock.

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.