Raymond James Analysts Raise Earnings Estimates for Parkland Co. (TSE:PKI)

Parkland Co. (TSE:PKI) – Analysts at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for shares of Parkland in a research report issued to clients and investors on Friday, April 19th. Raymond James analyst S. Hansen now anticipates that the company will earn $0.98 per share for the quarter, up from their prior forecast of $0.88. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Raymond James also issued estimates for Parkland’s Q3 2024 earnings at $1.11 EPS and Q4 2024 earnings at $0.97 EPS.

Parkland (TSE:PKI) last posted its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share for the quarter, beating 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 business had revenue of C$7.75 billion for the quarter, compared to analysts’ expectations of C$8.41 billion.

A number of other research firms have also commented on PKI. Royal Bank of Canada lowered their price target on shares of Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. JPMorgan Chase & Co. lowered their target price on shares of Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. National Bankshares lifted their price target on shares of Parkland from C$49.00 to C$52.00 in a research report on Monday. BMO Capital Markets reduced their price target on Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. Finally, TD Securities lifted their price objective on Parkland from C$52.00 to C$53.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Parkland has an average rating of “Moderate Buy” and a consensus price target of C$51.69.

Parkland Stock Up 0.6 %

Parkland stock opened at C$42.46 on Monday. Parkland has a twelve month low of C$30.29 and a twelve month high of C$47.99. The stock has a market cap of C$7.46 billion, a P/E ratio of 16.14, a P/E/G ratio of 11.79 and a beta of 1.38. The company’s 50-day moving average price is C$43.73 and its two-hundred day moving average price is C$43.55. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87.

Insider Buying and Selling at Parkland

In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. In other Parkland news, Senior Officer Darren Robert Smart sold 1,000 shares of Parkland 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 value of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$43.75, for a total value of C$328,125.00. In the last 90 days, insiders sold 42,392 shares of company stock valued at $1,867,999. 20.51% of the stock is currently owned by company insiders.

Parkland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were paid a $0.35 dividend. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Thursday, March 21st. Parkland’s payout ratio is currently 53.23%.

About Parkland

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.