Parkland (TSE:PKI) Price Target Cut to C$47.00

Parkland (TSE:PKI) had its target price reduced by Raymond James from C$55.00 to C$47.00 in a report issued on Friday, BayStreet.CA reports.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets decreased their target price on Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. CIBC decreased their price objective on Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on shares of Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. Desjardins cut their price target on Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Cormark cut their target price on Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Parkland currently has an average rating of “Moderate Buy” and a consensus target price of C$49.31.

Parkland Stock Performance

TSE:PKI opened at C$34.39 on Friday. The company has a fifty day moving average of C$35.44 and a two-hundred day moving average of C$37.87. Parkland has a fifty-two week low of C$33.61 and a fifty-two week high of C$47.99. The stock has a market capitalization of C$5.99 billion, a PE ratio of 16.15, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33.

Parkland (TSE:PKI) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.82 by C$0.06. Parkland had a net margin of 1.23% and a return on equity of 12.26%. The firm had revenue of C$7.50 billion during the quarter, compared to the consensus estimate of C$7.92 billion. As a group, research analysts forecast that Parkland will post 3.6022267 earnings per share for the current fiscal year.

Parkland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Thursday, September 19th. Parkland’s dividend payout ratio is presently 65.73%.

Insider Buying and Selling

In other news, Senior Officer Marcel Teunissen purchased 1,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. 20.51% of the stock is currently 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.