FY2024 Earnings Forecast for Parkland Co. Issued By Scotiabank (TSE:PKI)

Parkland Co. (TSE:PKI) – Equities research analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for Parkland in a research note issued on Monday, May 6th. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings of $3.29 per share for the year, up from their previous estimate of $2.99. Scotiabank has a “Outperform” rating and a $60.00 price objective on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share.

Several other research firms also recently issued reports on PKI. Royal Bank of Canada dropped their price target on Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. BMO Capital Markets decreased their target price on shares of Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. TD Securities increased their price objective on shares of Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, National Bankshares lifted their target price on Parkland from C$49.00 to C$52.00 in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$51.54.

Parkland Trading Down 0.1 %

Shares of TSE:PKI opened at C$40.55 on Wednesday. The firm has a market cap of C$7.13 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 11.79 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87. Parkland has a 12 month low of C$32.14 and a 12 month high of C$47.99. The company’s fifty day simple moving average is C$42.72 and its 200 day simple moving average is C$43.69.

Parkland (TSE:PKI) last issued its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.64 by C$0.20. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The business had revenue of C$7.75 billion during the quarter, compared to analyst estimates of C$8.41 billion.

Insider Activity at Parkland

In related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’s stock in a transaction dated 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 related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was 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 stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$44.00, for a total value of C$110,000.00. In the last quarter, insiders have sold 42,392 shares of company stock worth $1,867,999. Company insiders own 20.51% of the company’s stock.

Parkland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 21st. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.45%. Parkland’s payout ratio is presently 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.