Parkland Co. Expected to Earn FY2024 Earnings of $2.91 Per Share (TSE:PKI)

Parkland Co. (TSE:PKI) – Research analysts at Atb Cap Markets cut their FY2024 earnings estimates for shares of Parkland in a note issued to investors on Friday, October 11th. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $2.91 for the year, down from their prior estimate of $3.19. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share.

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

A number of other equities analysts have also commented on PKI. ATB Capital reduced their target price on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. National Bankshares cut their price objective on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Desjardins cut their price objective on shares of Parkland from C$48.00 to C$46.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. CIBC cut their price objective on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. Finally, BMO Capital Markets cut their price objective on shares of Parkland from C$52.00 to C$49.00 in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Parkland currently has a consensus rating of “Moderate Buy” and an average target price of C$50.38.

Parkland Stock Up 0.7 %

Shares of TSE PKI opened at C$36.38 on Monday. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. The company has a market cap of C$6.33 billion, a P/E ratio of 17.08, a PEG ratio of 11.79 and a beta of 1.33. Parkland has a 1 year low of C$34.17 and a 1 year high of C$47.99. The firm has a 50-day simple moving average of C$35.66 and a two-hundred day simple moving average of C$38.44.

Parkland Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.40 annualized dividend and a dividend yield of 3.85%. Parkland’s payout ratio is currently 65.73%.

Insider Transactions at Parkland

In other Parkland news, Senior Officer Marcel Teunissen bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. Insiders own 20.51% of the company’s stock.

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.