Parkland Co. (TSE:PKI – Free Report) – Investment analysts at Scotiabank upped their FY2024 earnings estimates for Parkland in a research report issued on Monday, May 6th. Scotiabank analyst B. Isaacson now expects that the company will post earnings per share of $3.29 for the year, up from their previous forecast of $2.99. Scotiabank currently has a “Outperform” rating and a $60.00 target price on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share.
Parkland (TSE:PKI – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, topping the consensus estimate of C$0.64 by C$0.20. The company had revenue of C$7.75 billion during the quarter, compared to analyst estimates of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%.
Check Out Our Latest Stock Analysis on PKI
Parkland Stock Down 1.3 %
Shares of PKI opened at C$40.04 on Wednesday. The stock has a 50 day moving average price of C$42.63 and a 200 day moving average price of C$43.67. Parkland has a one year low of C$32.14 and a one year high of C$47.99. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.29. The stock has a market capitalization of C$7.04 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 11.79 and a beta of 1.38.
Insiders Place Their Bets
In other news, Senior Officer Marcel Teunissen bought 1,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average cost of C$40.35 per share, with a total value of C$40,350.00. In related news, Senior Officer Darren Robert Smart sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$44.66, for a total transaction of C$223,304.50. Also, Senior Officer Marcel Teunissen purchased 1,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of C$40.35 per share, for a total transaction of C$40,350.00. Insiders have sold 42,392 shares of company stock worth $1,867,999 over the last ninety days. Corporate insiders own 20.51% of the company’s stock.
Parkland Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were given a $0.35 dividend. This is a positive change from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 21st. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. Parkland’s payout ratio is presently 53.23%.
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.
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