Brokers Set Expectations for Parkland Co.’s Q2 2024 Earnings (TSE:PKI)

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

A number of other equities research analysts have also issued reports on PKI. TD Securities increased their price target on Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. National Bankshares upped their price target on Parkland from C$49.00 to C$52.00 in a research note on Monday, April 22nd. CIBC reduced their price objective on shares of Parkland from C$57.00 to C$55.00 and set an “outperform” rating on the stock in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Finally, BMO Capital Markets reduced their price target on shares of Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Parkland has a consensus rating of “Moderate Buy” and an average price target of C$51.54.

Parkland Stock Performance

Shares of TSE PKI opened at C$40.61 on Tuesday. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73. Parkland has a 1 year low of C$32.14 and a 1 year high of C$47.99. The firm has a fifty day moving average price of C$42.86 and a 200-day moving average price of C$43.70. The stock has a market cap of C$7.14 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38.

Parkland (TSE:PKI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.64 by C$0.20. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The company had revenue of C$7.75 billion during 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. This is an increase from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.45%. The ex-dividend date was Thursday, March 21st. Parkland’s dividend payout ratio is presently 53.23%.

Insider Activity

In other Parkland news, Senior Officer Darren Robert Smart sold 1,000 shares of the firm’s stock in a transaction 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 related news, Senior Officer Darren Robert Smart sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. Over the last three months, insiders have 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.