Parkland (TSE:PKI) Sets New 52-Week Low at $34.52

Parkland Co. (TSE:PKI)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as C$34.52 and last traded at C$34.59, with a volume of 221114 shares traded. The stock had previously closed at C$34.83.

Analyst Ratings Changes

PKI has been the subject of a number of recent analyst reports. ATB Capital dropped their price target on Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Securities raised their target price on shares of Parkland from C$53.00 to C$55.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. National Bankshares decreased their price objective on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price target on Parkland from C$54.00 to C$53.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$50.38.

Parkland Stock Performance

The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. The company has a market cap of C$6.15 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 11.79 and a beta of 1.34. The business has a 50 day moving average price of C$36.45 and a two-hundred day moving average price of C$39.38.

Parkland (TSE:PKI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.82 by C$0.06. The company had revenue of C$7.50 billion for the quarter, compared to analysts’ expectations of C$7.92 billion. Parkland had a net margin of 1.23% and a return on equity of 12.26%.

Parkland Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 20th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a yield of 3.96%. Parkland’s payout ratio is currently 65.73%.

Insider Buying and Selling

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average price of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is owned by corporate insiders.

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.