Scotiabank Analysts Lower Earnings Estimates for Parkland

Parkland Co. (TSE:PKI) – Scotiabank cut their Q3 2024 earnings per share (EPS) estimates for shares of Parkland in a research note issued to investors on Monday, October 21st. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings per share of $0.55 for the quarter, down from their previous estimate of $0.94. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share.

PKI has been the subject of several other research reports. National Bankshares cut their price objective on Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Desjardins cut their price objective on Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets lowered their target price on Parkland from C$49.00 to C$46.00 in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on Parkland from C$54.00 to C$53.00 in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada lowered their target price on Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$49.31.

Parkland Trading Up 0.6 %

Shares of PKI opened at C$34.44 on Thursday. The stock has a fifty day moving average price of C$35.48 and a two-hundred day moving average price of C$37.97. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. Parkland has a 52-week low of C$33.61 and a 52-week high of C$47.99. The company has a market cap of C$6.00 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 11.79 and a beta of 1.33.

Parkland (TSE:PKI) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping the consensus estimate 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 business had revenue of C$7.50 billion during the quarter, compared to the consensus estimate of C$7.92 billion.

Parkland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.07%. Parkland’s dividend payout ratio (DPR) is 65.73%.

Insider Activity

In other news, Senior Officer Marcel Teunissen purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. Corporate 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.