Analysts Offer Predictions for Parkland Co.’s Q2 2024 Earnings (TSE:PKI)

Parkland Co. (TSE:PKI) – Stock analysts at Scotiabank issued their Q2 2024 EPS estimates for shares of Parkland in a research report issued to clients and investors on Monday, May 6th. Scotiabank analyst B. Isaacson expects that the company will post earnings of $0.96 per share for the quarter. Scotiabank has a “Outperform” rating and a $60.00 price objective on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Scotiabank also issued estimates for Parkland’s FY2025 earnings at $3.77 EPS.

Parkland (TSE:PKI) last announced its quarterly earnings data 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 company had revenue of C$7.75 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%.

Other research analysts have also recently issued reports about the stock. TD Securities increased their target price on shares of Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets dropped their price objective on shares of Parkland from C$57.00 to C$55.00 in a research note on Tuesday, April 2nd. Royal Bank of Canada reduced their price objective on shares of Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. JPMorgan Chase & Co. dropped their target price on Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Finally, CIBC reduced their price target on Parkland from C$57.00 to C$55.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Parkland presently has an average rating of “Moderate Buy” and an average target price of C$51.54.

Parkland Stock Performance

Shares of Parkland stock opened at C$40.55 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The stock’s fifty day moving average price is C$42.72 and its 200-day moving average price is C$43.69. The firm has a market cap of C$7.13 billion, a P/E ratio of 15.42, a P/E/G ratio of 11.79 and a beta of 1.38. Parkland has a 12 month low of C$32.14 and a 12 month high of C$47.99.

Insiders Place Their Bets

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

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 given a $0.35 dividend. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s dividend payout ratio (DPR) is presently 53.23%.

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.