Raymond James Predicts Parkland’s FY2024 Earnings (TSE:PKI)

Parkland Co. (TSE:PKI) – Equities researchers at Raymond James cut their FY2024 earnings estimates for Parkland in a research note issued to investors on Friday, November 1st. Raymond James analyst S. Hansen now expects that the company will earn $2.37 per share for the year, down from their previous estimate of $2.43. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share. Raymond James also issued estimates for Parkland’s Q4 2024 earnings at $0.61 EPS and FY2025 earnings at $3.11 EPS.

Other analysts also recently issued reports about the stock. Cormark dropped their price objective on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. ATB Capital dropped their price target on Parkland from C$49.00 to C$46.00 and set an “outperform” rating for the company in a research note on Friday. Canaccord Genuity Group reduced their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets dropped their target price on Parkland from C$49.00 to C$46.00 in a research report on Tuesday, October 22nd. Finally, CIBC reduced their price target on shares of Parkland from C$50.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Parkland has a consensus rating of “Moderate Buy” and an average price target of C$47.38.

Parkland Price Performance

PKI stock opened at C$32.96 on Monday. The firm has a 50 day simple moving average of C$35.22 and a two-hundred day simple moving average of C$37.65. The stock has a market cap of C$5.74 billion, a PE ratio of 15.47, a P/E/G ratio of 11.79 and a beta of 1.33. Parkland has a one year low of C$32.00 and a one year high of C$47.99. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73.

Parkland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, September 19th. Parkland’s dividend payout ratio (DPR) is presently 65.73%.

Insider Transactions at Parkland

In other news, Senior Officer Marcel Teunissen purchased 1,000 shares of the 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. Company insiders own 20.51% of the company’s stock.

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.