Parkland Co. Forecasted to Earn FY2023 Earnings of $2.47 Per Share (TSE:PKI)

Parkland Co. (TSE:PKIGet Rating) – Analysts at Desjardins cut their FY2023 earnings estimates for shares of Parkland in a research report issued on Tuesday, November 8th. Desjardins analyst C. Li now expects that the company will earn $2.47 per share for the year, down from their previous estimate of $2.71. The consensus estimate for Parkland’s current full-year earnings is $2.56 per share.

PKI has been the subject of a number of other reports. BMO Capital Markets cut their target price on shares of Parkland from C$44.00 to C$35.00 in a report on Thursday, October 20th. Scotiabank upgraded Parkland from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$45.00 to C$47.00 in a research note on Friday, August 5th. Raymond James dropped their price target on Parkland from C$52.00 to C$42.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 20th. CIBC dropped their target price on Parkland from C$49.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Finally, TD Securities reduced their target price on Parkland from C$50.00 to C$39.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$39.80.

Parkland Price Performance

Shares of TSE:PKI opened at C$24.75 on Wednesday. Parkland has a twelve month low of C$24.25 and a twelve month high of C$39.45. The stock has a market capitalization of C$4.36 billion and a PE ratio of 14.73. The firm’s 50 day moving average price is C$29.41 and its 200-day moving average price is C$33.12. The company has a quick ratio of 0.82, a current ratio of 1.46 and a debt-to-equity ratio of 271.45.

Insider Transactions at Parkland

In other Parkland news, Director James Pantelidis bought 4,000 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were acquired at an average price of C$32.95 per share, with a total value of C$131,800.00. Following the purchase, the director now owns 264,528 shares in the company, valued at approximately C$8,716,197.60. In related news, Director James Pantelidis bought 4,000 shares of the stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of C$32.95 per share, with a total value of C$131,800.00. Following the completion of the acquisition, the director now owns 264,528 shares of the company’s stock, valued at C$8,716,197.60. Also, Senior Officer Marcel Teunissen acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was acquired at an average cost of C$33.42 per share, with a total value of C$33,420.00. Following the completion of the acquisition, the insider now directly owns 11,562 shares in the company, valued at C$386,402.04. Insiders have acquired 12,410 shares of company stock worth $374,156 over the last quarter.

About Parkland

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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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Earnings History and Estimates for Parkland (TSE:PKI)

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