Parkland Co. Forecasted to Earn Q2 2024 Earnings of $0.96 Per Share (TSE:PKI)

Parkland Co. (TSE:PKI) – Investment analysts at Scotiabank issued their Q2 2024 earnings per share estimates for shares of Parkland in a research report issued on Monday, May 6th. Scotiabank analyst B. Isaacson expects that the company will post earnings per share of $0.96 for the quarter. Scotiabank currently has a “Outperform” rating and a $60.00 price target 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.

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

Parkland Stock Performance

PKI opened at C$40.04 on Tuesday. 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 business’s 50 day moving average is C$42.63 and its 200-day moving average is C$43.67. The stock has a market cap of C$7.04 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. Parkland has a twelve month low of C$32.14 and a twelve month high of C$47.99.

Parkland (TSE:PKI) last issued its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of C$7.75 billion for the quarter, compared to the consensus estimate of C$8.41 billion.

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 paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 21st. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.50%. Parkland’s dividend payout ratio is currently 53.23%.

Insider Buying and Selling

In related news, Senior Officer Robert Berthold Espey sold 11,000 shares of Parkland 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. In other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total transaction of C$484,000.00. Also, Senior Officer Darren Robert Smart sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$44.00, for a total transaction of C$110,000.00. Over the last ninety days, insiders sold 42,392 shares of company stock worth $1,867,999. Corporate insiders own 20.51% of the company’s stock.

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.