Scotiabank Weighs in on Parkland Co.’s Q2 2024 Earnings (TSE:PKI)

Parkland Co. (TSE:PKI) – Equities research analysts at Scotiabank issued their Q2 2024 earnings per share (EPS) estimates for Parkland in a research report issued to clients and investors on Monday, May 6th. Scotiabank analyst B. Isaacson forecasts that the company will earn $0.96 per share for the quarter. Scotiabank currently has a “Outperform” rating and a $60.00 target price on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Scotiabank also issued estimates for Parkland’s FY2025 earnings at $3.77 EPS.

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

A number of other research analysts have also recently commented on PKI. National Bankshares upped their price objective on Parkland from C$49.00 to C$52.00 in a report on Monday, April 22nd. BMO Capital Markets reduced their price objective on shares of Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. CIBC lowered their target price on shares of Parkland from C$57.00 to C$55.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. TD Securities upped their price objective on shares of Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada dropped their target price on shares of Parkland from C$54.00 to C$50.00 in a report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$51.54.

Parkland Stock Performance

TSE:PKI opened at C$40.04 on Tuesday. The company’s 50-day moving average is C$42.63 and its two-hundred day moving average is C$43.67. The firm has a market capitalization of C$7.04 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 11.79 and a beta of 1.38. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73. Parkland has a 1-year low of C$32.14 and a 1-year high of C$47.99.

Insider Buying and Selling at Parkland

In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total transaction of C$43,000.00. In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total transaction of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$44.59, for a total value of C$334,431.00. In the last three months, insiders have sold 42,392 shares of company stock valued at $1,867,999. Insiders own 20.51% of the company’s stock.

Parkland Increases Dividend

The company 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 3.50%. The ex-dividend date of this dividend was Thursday, March 21st. This is a boost from Parkland’s previous quarterly dividend of $0.34. Parkland’s payout ratio is 53.23%.

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.