Scotiabank Issues Pessimistic Forecast for Parkland Earnings

Parkland Co. (TSE:PKI) – Equities researchers at Scotiabank cut their Q3 2024 earnings estimates for shares of Parkland in a research report issued on Monday, October 21st. Scotiabank analyst B. Isaacson now expects that the company will earn $0.55 per share for the quarter, down from their prior estimate of $0.94. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share.

Parkland (TSE:PKI) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.06. The business had revenue of C$7.50 billion during the quarter, compared to analyst estimates of C$7.92 billion. Parkland had a return on equity of 12.26% and a net margin of 1.23%.

A number of other equities research analysts have also weighed in on PKI. ATB Capital lowered their price target on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. BMO Capital Markets lowered their target price on Parkland from C$49.00 to C$46.00 in a research note on Tuesday. TD Securities cut their price target on Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Cormark lowered their price objective on Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group dropped their price objective on Parkland from C$48.00 to C$47.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parkland currently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.54.

Parkland Price Performance

The firm has a 50-day moving average price of C$35.54 and a 200 day moving average price of C$38.05. Parkland has a 1 year low of C$33.61 and a 1 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. The firm has a market capitalization of C$5.95 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a $0.35 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of ∞. Parkland’s payout ratio is currently 65.73%.

Insider Transactions at Parkland

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average price of C$36.52 per share, for a total transaction of C$36,520.00. 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.