Parkland Co. (TSE:PKI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Parkland Co. (TSE:PKI) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$51.46.

A number of research analysts recently weighed in on the stock. BMO Capital Markets reduced 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. JPMorgan Chase & Co. reduced their price objective on shares of Parkland from C$56.00 to C$54.00 in a research note on Tuesday. National Bankshares reduced their price target on shares of Parkland from C$50.00 to C$49.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Finally, Scotiabank boosted their price target on shares of Parkland from C$50.00 to C$60.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th.

Parkland Trading Up 0.7 %

TSE:PKI opened at C$43.30 on Friday. 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 has a market capitalization of C$7.61 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The firm’s 50 day moving average is C$43.84 and its 200 day moving average is C$43.45. Parkland has a 12 month low of C$30.29 and a 12 month high of C$47.99.

Parkland (TSE:PKI) last posted its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, topping analysts’ consensus estimates of C$0.64 by C$0.20. Parkland had a net margin of 1.45% and a return on equity of 15.15%. The company had revenue of C$7.75 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. Sell-side analysts expect that Parkland will post 3.302673 earnings per share for the current year.

Parkland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were paid a $0.35 dividend. The ex-dividend date was Thursday, March 21st. This is an increase from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.23%. Parkland’s payout ratio is currently 53.23%.

Insiders Place Their Bets

In other Parkland news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. In other Parkland news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. Also, Senior Officer Darren Robert Smart sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$44.00, for a total transaction of C$110,000.00. Insiders sold 42,392 shares of company stock valued at $1,867,999 over the last three months. 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.