Raymond James Analysts Increase Earnings Estimates for Parkland Co. (TSE:PKI)

Parkland Co. (TSE:PKI) – Investment analysts at Raymond James upped their Q2 2024 EPS estimates for Parkland in a research note issued to investors on Friday, April 19th. Raymond James analyst S. Hansen now expects that the company will post earnings per share of $0.98 for the quarter, up from their previous estimate of $0.88. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Raymond James also issued estimates for Parkland’s Q3 2024 earnings at $1.11 EPS and Q4 2024 earnings at $0.97 EPS.

PKI has been the subject of a number of other research reports. National Bankshares boosted their target price on shares of Parkland from C$49.00 to C$52.00 in a research note on Monday. TD Securities upped their target price on shares of Parkland from C$52.00 to C$53.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets reduced their price target on shares of Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. cut their target price on Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Finally, Scotiabank raised their price target on Parkland from C$50.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$51.69.

Parkland Stock Up 0.6 %

PKI stock opened at C$42.71 on Monday. Parkland has a fifty-two week low of C$30.29 and a fifty-two week high of C$47.99. The company’s 50 day moving average price is C$43.68 and its 200 day moving average price is C$43.58. 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 market capitalization of C$7.51 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 11.79 and a beta of 1.38.

Parkland (TSE:PKI) last announced its quarterly earnings data 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. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The business had revenue of C$7.75 billion for the quarter, compared to analysts’ expectations of C$8.41 billion.

Parkland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were issued a dividend of $0.35 per share. This is an increase 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 was Thursday, March 21st. Parkland’s dividend payout ratio (DPR) is presently 53.23%.

Insider Buying and Selling

In other Parkland news, Senior Officer Darren Robert Smart sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. In other Parkland news, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$43.75, for a total transaction of C$328,125.00. Also, Senior Officer Darren Robert Smart sold 1,000 shares of the business’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 value of C$43,000.00. In the last ninety days, insiders have sold 42,392 shares of company stock valued at $1,867,999. 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.