Parkland Co. Forecasted to Earn FY2023 Earnings of $3.03 Per Share (TSE:PKI)

Parkland Co. (TSE:PKI – Get Rating) – National Bank Financial lifted their FY2023 earnings estimates for Parkland in a research report issued to clients and investors on Thursday, May 5th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $3.03 per share for the year, up from their previous forecast of $2.97.

A number of other research firms have also commented on PKI. Raymond James set a C$52.00 price objective on Parkland and gave the stock a “strong-buy” rating in a research note on Friday, March 4th. CIBC reduced their price objective on Parkland from C$53.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Monday, March 7th. Desjardins reissued a “buy” rating and issued a C$49.00 price objective on shares of Parkland in a research note on Wednesday, April 13th. National Bankshares cut their price target on Parkland from C$48.00 to C$45.00 and set an “outperform” rating on the stock in a research note on Monday, March 7th. Finally, Scotiabank increased their target price on Parkland from C$44.00 to C$45.00 in a research note on Friday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Parkland has a consensus rating of “Buy” and a consensus price target of C$48.17.

Parkland stock opened at C$35.06 on Monday. The company has a debt-to-equity ratio of 238.25, a quick ratio of 0.75 and a current ratio of 1.39. The firm has a market cap of C$5.45 billion and a P/E ratio of 54.78. The business’s fifty day moving average is C$34.94 and its two-hundred day moving average is C$34.73. Parkland has a 52 week low of C$31.18 and a 52 week high of C$41.89.

Parkland (TSE:PKI – Get Rating) last posted its quarterly earnings data on Thursday, March 3rd. The company reported C$0.36 EPS for the quarter, topping analysts’ consensus estimates of C$0.25 by C$0.11. The business had revenue of C$6.29 billion during the quarter, compared to analyst estimates of C$5.50 billion.

In other Parkland news, Senior Officer Robert Berthold Espey sold 6,000 shares of the stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of C$35.93, for a total value of C$215,550.00. Following the completion of the sale, the insider now directly owns 666,130 shares in the company, valued at C$23,930,720.25.

About Parkland (Get Rating)

Parkland Corporation operates food and convenience stores in Canada, the United States, the Caribbean region, and Central and South America. The company operates through four segments: Canada, USA, Supply, and International. The Canada segment owns, operates, supports, and distributes a coast-to-coast network of retail convenience, food, and fuel sites, as well as commercial cardlocks and bulk fuel facilities; and provides propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers.

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