FY2024 EPS Estimates for Parkland Co. (TSE:PKI) Lifted by Scotiabank

Parkland Co. (TSE:PKI) – Investment analysts at Scotiabank boosted their FY2024 earnings estimates for shares of Parkland in a research report issued to clients and investors on Monday, May 6th. Scotiabank analyst B. Isaacson now expects that the company will post earnings of $3.29 per share for the year, up from their prior estimate of $2.99. Scotiabank currently has a “Outperform” rating and a $60.00 target price 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 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 for the quarter, compared to analysts’ expectations of C$8.41 billion.

A number of other research analysts have also recently weighed in on PKI. Royal Bank of Canada dropped their price objective on shares of Parkland from C$54.00 to C$50.00 in a report on Monday, April 15th. TD Securities upped their price objective on Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. CIBC cut their price target on shares of 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 Parkland from C$49.00 to C$52.00 in a research report on Monday, April 22nd. Finally, BMO Capital Markets cut their price target on 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$51.54.

Parkland Stock Performance

Shares of Parkland stock opened at C$39.99 on Wednesday. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73. The stock has a market capitalization of C$7.03 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The business has a 50-day moving average of C$42.57 and a 200 day moving average of C$43.64. Parkland has a 12 month low of C$32.14 and a 12 month high of C$47.99.

Insider Buying and Selling

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average price of C$40.35 per share, with a total value of C$40,350.00. In other news, Senior Officer Marcel Teunissen purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of C$40.35 per share, with a total value of C$40,350.00. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total transaction of C$484,000.00. Insiders sold 42,392 shares of company stock valued at $1,867,999 over the last ninety days. Corporate insiders own 20.51% of the company’s stock.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were paid a $0.35 dividend. This is a boost from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.50%. The ex-dividend date was Thursday, March 21st. Parkland’s payout ratio is currently 53.23%.

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.