Parkland Co. Plans Quarterly Dividend of $0.34 (TSE:PKI)

Parkland Co. (TSE:PKI) announced a quarterly dividend on Wednesday, September 13th, Zacks reports. Investors of record on Friday, September 22nd will be given a dividend of 0.34 per share on Friday, October 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Thursday, September 21st.

Parkland Trading Up 0.3 %

TSE PKI opened at C$39.80 on Friday. Parkland has a 52 week low of C$24.25 and a 52 week high of C$40.19. The firm has a 50 day moving average of C$36.37 and a two-hundred day moving average of C$33.62. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 209.61. The stock has a market capitalization of C$7.00 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 11.79 and a beta of 1.40.

Parkland (TSE:PKI) last issued its earnings results on Thursday, August 3rd. The company reported C$0.73 EPS for the quarter, topping analysts’ consensus estimates of C$0.61 by C$0.12. The firm had revenue of C$7.82 billion during the quarter, compared to the consensus estimate of C$8.81 billion. Parkland had a net margin of 0.96% and a return on equity of 12.38%. As a group, research analysts expect that Parkland will post 3.1290837 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PKI. JPMorgan Chase & Co. dropped their price objective on Parkland from C$39.00 to C$38.00 in a report on Wednesday, June 7th. Cormark set a C$45.00 price target on Parkland in a research report on Thursday, September 7th. Canaccord Genuity Group boosted their price objective on Parkland from C$42.00 to C$44.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Raymond James raised their target price on shares of Parkland from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Finally, Scotiabank downgraded shares of Parkland from a “sector outperform” rating to a “sector perform” rating and upped their price target for the company from C$42.00 to C$45.00 in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$43.77.

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.