Parkland (TSE:PKI) Given New C$47.00 Price Target at Canaccord Genuity Group

Parkland (TSE:PKI) had its price target reduced by Canaccord Genuity Group from C$48.00 to C$47.00 in a report published on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Parkland from C$52.00 to C$49.00 in a research note on Thursday, August 1st. ATB Capital lowered their target price on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Securities lowered their target price on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Cormark lowered their target price on shares of Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered their target price on shares of 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$49.92.

Parkland Price Performance

Shares of TSE:PKI opened at C$35.43 on Thursday. The firm has a market cap of C$6.17 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The firm’s fifty day moving average is C$35.59 and its 200-day moving average is C$38.23. 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$34.17 and a 52 week high of C$47.99.

Parkland (TSE:PKI) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.06. The company had revenue of C$7.50 billion for the quarter, compared to analyst estimates of C$7.92 billion. Parkland had a net margin of 1.23% and a return on equity of 12.26%. Sell-side analysts predict that Parkland will post 3.6022267 earnings per share for the current year.

Parkland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Thursday, September 19th. Parkland’s payout ratio is presently 65.73%.

Insider Transactions at Parkland

In other Parkland news, Senior Officer Marcel Teunissen bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is currently owned by insiders.

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.