Parkland Co. (TSE:PKI) Receives C$50.46 Consensus Target Price from Brokerages

Parkland Co. (TSE:PKI) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$50.38.

A number of research analysts have issued reports on PKI shares. Cormark lowered their price objective on Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Desjardins cut their price objective on shares of Parkland from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. National Bankshares cut their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price objective on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd.

Parkland Stock Down 1.4 %

TSE:PKI opened at C$35.01 on Monday. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. The firm’s 50-day moving average price is C$36.37 and its 200-day moving average price is C$39.20. The company has a market capitalization of C$6.10 billion, a PE ratio of 16.67, a P/E/G ratio of 11.79 and a beta of 1.34. Parkland has a 1-year low of C$34.50 and a 1-year high of C$47.99.

Parkland (TSE:PKI) last announced its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.06. Parkland had a net margin of 1.23% and a return on equity of 12.26%. The business had revenue of C$7.50 billion during the quarter, compared to the consensus estimate of C$7.92 billion.

Parkland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.00%. Parkland’s dividend payout ratio is currently 65.73%.

Insider Transactions at Parkland

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