Equities Analysts Offer Predictions for Parkland Co.’s Q1 2024 Earnings (TSE:PKI)

Parkland Co. (TSE:PKI) – Equities researchers at Atb Cap Markets lowered their Q1 2024 EPS estimates for Parkland in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $0.09 per share for the quarter, down from their prior estimate of $0.61. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Atb Cap Markets also issued estimates for Parkland’s FY2024 earnings at $2.90 EPS.

A number of other analysts have also issued reports on the stock. Scotiabank increased their price target on shares of Parkland from C$50.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. TD Securities increased their price target on shares of Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets reduced their price target on shares of Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. National Bankshares increased their price objective on Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$51.69.

Parkland Price Performance

TSE PKI opened at C$42.67 on Friday. The company has a 50 day simple moving average of C$43.58 and a 200-day simple moving average of C$43.57. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73. The firm has a market capitalization of C$7.50 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. Parkland has a 52-week low of C$30.52 and a 52-week high of C$47.99.

Parkland (TSE:PKI) last posted its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of C$8.41 billion.

Insider Buying and Selling at Parkland

In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total transaction of C$484,000.00. In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total value of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. Insiders have sold a total of 42,392 shares of company stock worth $1,867,999 over the last 90 days. Insiders own 20.51% of the company’s stock.

Parkland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.28%. The ex-dividend date was Thursday, March 21st. This is an increase from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio (DPR) is 53.23%.

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.