JPMorgan Chase & Co. Trims Parkland (TSE:PKI) Target Price to C$54.00

Parkland (TSE:PKI) had its price target reduced by JPMorgan Chase & Co. from C$56.00 to C$54.00 in a report published on Tuesday, BayStreet.CA reports.

Several other research firms have also issued reports on PKI. Scotiabank boosted their target price on shares of Parkland from C$50.00 to C$60.00 and gave the company an outperform rating in a report on Thursday, February 29th. National Bankshares cut their target price on Parkland from C$50.00 to C$49.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. CIBC raised their target price on Parkland from C$50.00 to C$57.00 and gave the stock an outperform rating in a research note on Tuesday, December 19th. TD Securities boosted their price target 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, BMO Capital Markets reduced their price objective on shares of Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of C$51.46.

Parkland Stock Up 0.7 %

Shares of TSE:PKI opened at C$43.30 on Tuesday. The firm has a market cap of C$7.61 billion, a P/E ratio of 16.46, a P/E/G ratio of 11.79 and a beta of 1.38. Parkland has a 12-month low of C$30.29 and a 12-month high of C$47.99. The business has a fifty day simple moving average of C$43.84 and a 200 day simple moving average of C$43.45. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87.

Parkland (TSE:PKI) last issued its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$7.75 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Analysts predict that Parkland will post 3.302673 earnings per share for the current year.

Parkland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, March 21st. This is a positive change from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio (DPR) is currently 53.23%.

Insider Buying and Selling

In other news, Senior Officer Darren Robert Smart sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$44.66, for a total value of C$223,304.50. In other news, Senior Officer Darren Robert Smart sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 Parkland stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. Over the last 90 days, insiders sold 42,392 shares of company stock worth $1,867,999. 20.51% of the stock is owned by corporate insiders.

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.