Parkland (TSE:PKI) Price Target Lowered to C$50.00 at Royal Bank of Canada

Parkland (TSE:PKI) had its target price trimmed by Royal Bank of Canada from C$54.00 to C$50.00 in a research note released on Monday morning, BayStreet.CA reports.

Several other research firms have also commented on PKI. JPMorgan Chase & Co. upped their price target on shares of Parkland from C$51.00 to C$56.00 and gave the company an overweight rating in a research report on Monday, March 25th. CIBC boosted their price objective on Parkland from C$50.00 to C$57.00 and gave the company an outperform rating in a research note on Tuesday, December 19th. Scotiabank boosted their price objective on Parkland from C$50.00 to C$60.00 and gave the company an outperform rating in a research note on Thursday, February 29th. BMO Capital Markets cut their price objective on Parkland from C$57.00 to C$55.00 in a research note on Tuesday, April 2nd. Finally, National Bankshares cut their price objective on Parkland from C$50.00 to C$49.00 and set an outperform rating for the company in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of C$51.62.

Parkland Price Performance

TSE PKI opened at C$43.12 on Monday. Parkland has a 52 week low of C$30.29 and a 52 week high of C$47.99. The firm has a market capitalization of C$7.58 billion, a P/E ratio of 16.40, a PEG ratio of 11.79 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87. The company has a 50-day moving average price of C$43.98 and a 200-day moving average price of C$43.43.

Parkland (TSE:PKI) last released its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 EPS 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 during the quarter, compared to analyst estimates of C$8.41 billion. Equities research analysts anticipate that Parkland will post 3.302673 earnings per share for the current year.

Parkland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.25%. This is an increase from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s dividend payout ratio is presently 53.23%.

Insiders Place Their Bets

In other Parkland news, Senior Officer Darren Robert Smart sold 1,000 shares of the company’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 value of C$43,000.00. In other news, Senior Officer Darren Robert Smart sold 1,000 shares of the company’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 Monday, March 4th. The stock was sold at an average price of C$43.75, for a total value of C$328,125.00. Insiders sold 42,392 shares of company stock worth $1,867,999 in the last three months. 20.51% of the stock is owned by company insiders.

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.