Parkland Co. Expected to Post FY2024 Earnings of $3.29 Per Share (TSE:PKI)

Parkland Co. (TSE:PKI) – Stock analysts at Scotiabank increased their FY2024 earnings estimates for Parkland in a research note issued to investors on Monday, May 6th. Scotiabank analyst B. Isaacson now anticipates that the company will post earnings of $3.29 per share for the year, up from their prior estimate of $2.99. Scotiabank has a “Outperform” rating and a $60.00 price target on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share.

Parkland (TSE:PKI) last released its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.64 by C$0.20. The business had revenue of C$7.75 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%.

A number of other brokerages have also recently issued reports on PKI. JPMorgan Chase & Co. cut their target price on shares of Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Royal Bank of Canada cut their price objective on Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. CIBC decreased their price objective on Parkland from C$57.00 to C$55.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. National Bankshares upped their target price on shares of Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. Finally, TD Securities lifted their price target on shares of Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$51.54.

Parkland Stock Down 0.1 %

Parkland stock opened at C$40.55 on Wednesday. The firm has a market capitalization of C$7.13 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. Parkland has a fifty-two week low of C$32.14 and a fifty-two week high of C$47.99. The stock’s fifty day moving average is C$42.72 and its two-hundred day moving average is C$43.69. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.29.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s dividend payout ratio is presently 53.23%.

Insider Buying and Selling

In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the 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 transaction of C$43,000.00. In other news, Senior Officer Robert Berthold Espey sold 7,500 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$43.75, for a total value of C$328,125.00. Also, Senior Officer Darren Robert Smart sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was 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. 20.51% of the stock is currently owned by company 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.