Parkland Co. (TSE:PKI) Expected to Post Q4 2023 Earnings of $0.71 Per Share

Parkland Co. (TSE:PKI – Get Rating) – Analysts at Raymond James decreased their Q4 2023 earnings per share (EPS) estimates for Parkland in a report issued on Monday, March 6th. Raymond James analyst S. Hansen now expects that the company will post earnings of $0.71 per share for the quarter, down from their previous estimate of $0.84. The consensus estimate for Parkland’s current full-year earnings is $2.54 per share.

Separately, National Bankshares upped their price target on Parkland from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$39.33.

Parkland Stock Up 1.5 %

TSE:PKI opened at C$30.74 on Wednesday. The firm has a market capitalization of C$5.41 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 11.79 and a beta of 1.46. Parkland has a 1-year low of C$24.25 and a 1-year high of C$39.45. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 229.57. The business’s fifty day moving average price is C$30.55 and its 200 day moving average price is C$29.72.

Insider Transactions at Parkland

In related news, Senior Officer Ferio Pugliese purchased 8,300 shares of the firm’s stock in a transaction dated Friday, December 9th. The stock was bought at an average price of C$30.01 per share, for a total transaction of C$249,074.70. Following the purchase, the insider now owns 11,888 shares in the company, valued at approximately C$356,746.99. In other news, Senior Officer Darren Robert Smart sold 19,142 shares of the company’s stock in a transaction dated Thursday, December 29th. The stock was sold at an average price of C$29.90, for a total transaction of C$572,345.80. Following the completion of the sale, the insider now owns 28,918 shares in the company, valued at approximately C$864,648.20. Also, Senior Officer Ferio Pugliese purchased 8,300 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were bought at an average price of C$30.01 per share, with a total value of C$249,074.70. Following the purchase, the insider now owns 11,888 shares in the company, valued at approximately C$356,746.99. 20.47% of the stock is currently owned by corporate insiders.

Parkland Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 22nd will be given a $0.34 dividend. This is a positive change from Parkland’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, March 21st. Parkland’s dividend payout ratio is presently 77.38%.

Parkland Company Profile

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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.