Royal Bank of Canada Trims Parkland (TSE:PKI) Target Price to C$50.00

Parkland (TSE:PKI) had its target price trimmed by Royal Bank of Canada from C$54.00 to C$50.00 in a research note published on Monday, BayStreet.CA reports.

Several other analysts have also recently weighed in on the stock. TD Securities raised their target price on shares of Parkland from C$52.00 to C$53.00 and gave the company a buy rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. increased their price target on shares of Parkland from C$51.00 to C$56.00 and gave the company an overweight rating in a research note on Monday, March 25th. National Bankshares lowered their target price on shares of Parkland from C$50.00 to C$49.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. BMO Capital Markets cut their target price on shares of Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Finally, Scotiabank lifted their target price on shares of Parkland from C$50.00 to C$60.00 and gave the company an outperform rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of C$51.46.

Parkland Trading Up 0.5 %

Shares of PKI stock opened at C$43.02 on Monday. 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 firm has a market cap of C$7.56 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The company has a 50-day moving average of C$43.88 and a two-hundred day moving average of C$43.45. Parkland has a 1-year low of C$30.29 and a 1-year high of C$47.99.

Parkland (TSE:PKI) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.64 by C$0.20. The business had revenue of C$7.75 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a net margin of 1.45% and a return on equity of 15.15%. On average, analysts predict that Parkland will post 3.302673 EPS for the current year.

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 given a $0.35 dividend. This is an increase from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 21st. This represents a $1.40 annualized dividend and a yield of 3.25%. Parkland’s dividend payout ratio (DPR) is 53.23%.

Insider Buying and Selling at Parkland

In other news, Senior Officer Darren Robert Smart sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total transaction of C$43,000.00. In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. Also, Senior Officer Darren Robert Smart sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total value of C$43,000.00. Insiders sold 42,392 shares of company stock valued at $1,867,999 over the last 90 days. 20.51% of the stock is owned by corporate 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.