Parkland Co. Expected to Earn Q2 2022 Earnings of $1.02 Per Share (TSE:PKI)

Parkland Co. (TSE:PKIGet Rating) – Investment analysts at Raymond James decreased their Q2 2022 earnings per share estimates for shares of Parkland in a research note issued to investors on Tuesday, August 2nd. Raymond James analyst S. Hansen now anticipates that the company will post earnings of $1.02 per share for the quarter, down from their previous estimate of $1.21. Raymond James has a “Strong-Buy” rating and a $52.00 price objective on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.26 per share. Raymond James also issued estimates for Parkland’s Q3 2022 earnings at $1.04 EPS, Q4 2022 earnings at $1.06 EPS, FY2022 earnings at $3.45 EPS and FY2023 earnings at $3.90 EPS.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada upped their price target on Parkland from C$45.00 to C$47.00 and gave the company an “outperform” rating in a research report on Thursday, July 7th. Desjardins restated a “buy” rating and issued a C$49.00 price target on shares of Parkland in a research report on Wednesday, April 13th. Scotiabank upgraded Parkland from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$45.00 to C$47.00 in a research report on Friday. Finally, The Goldman Sachs Group dropped their price target on Parkland from C$47.00 to C$35.00 and set a “neutral” rating for the company in a research report on Wednesday, June 22nd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$47.50.

Parkland Price Performance

TSE:PKI opened at C$33.65 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.85 and a debt-to-equity ratio of 265.57. The stock has a 50 day moving average of C$35.39 and a two-hundred day moving average of C$34.94. The firm has a market cap of C$5.23 billion and a P/E ratio of 42.06. Parkland has a 12 month low of C$31.18 and a 12 month high of C$40.87.

Parkland (TSE:PKIGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported C$0.87 EPS for the quarter, topping the consensus estimate of C$0.70 by C$0.17. The firm had revenue of C$7.61 billion for the quarter, compared to analysts’ expectations of C$6.16 billion.

Insider Activity at Parkland

In related news, Senior Officer Robert Berthold Espey sold 10,000 shares of the stock in a transaction on Friday, June 10th. The stock was sold at an average price of C$39.40, for a total value of C$394,000.00. Following the transaction, the insider now owns 683,795 shares of the company’s stock, valued at C$26,941,523. In other Parkland news, Senior Officer Ian James White sold 13,646 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of C$33.46, for a total transaction of C$456,595.16. Following the transaction, the insider now owns 23,927 shares of the company’s stock, valued at C$800,597.42. Also, Senior Officer Robert Berthold Espey sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of C$39.40, for a total value of C$394,000.00. Following the transaction, the insider now directly owns 683,795 shares in the company, valued at approximately C$26,941,523. Insiders have sold 48,646 shares of company stock valued at $1,738,445 over the last quarter.

About Parkland

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Parkland Corporation operates food and convenience stores in Canada, the United States, the Caribbean region, and Central and South America. The company operates through four segments: Canada, USA, Supply, and International. The Canada segment owns, operates, supports, and distributes a coast-to-coast network of retail convenience, food, and fuel sites, as well as commercial cardlocks and bulk fuel facilities; and provides propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers.

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Earnings History and Estimates for Parkland (TSE:PKI)

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