Parkland Co. (TSE:PKI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Parkland Co. (TSE:PKI) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$51.54.

Several brokerages have recently issued reports on PKI. Royal Bank of Canada reduced their target price on shares of Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. CIBC reduced their target price on shares of Parkland from C$57.00 to C$55.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. National Bankshares lifted their price objective on shares of Parkland from C$49.00 to C$52.00 in a research note on Monday, April 22nd. Finally, BMO Capital Markets reduced their price objective on shares of Parkland from C$57.00 to C$55.00 in a research note on Tuesday, April 2nd.

Parkland Trading Up 0.6 %

PKI opened at C$38.59 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.73 and a debt-to-equity ratio of 210.21. The stock has a market capitalization of C$6.74 billion, a PE ratio of 17.78, a PEG ratio of 11.79 and a beta of 1.37. Parkland has a 1-year low of C$32.14 and a 1-year high of C$47.99. The firm has a 50-day moving average price of C$39.59 and a two-hundred day moving average price of C$42.48.

Parkland (TSE:PKI) last posted its quarterly earnings data on Wednesday, May 1st. The company reported C$0.25 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.19. The firm had revenue of C$6.94 billion during the quarter, compared to analysts’ expectations of C$8.13 billion. Parkland had a net margin of 1.25% and a return on equity of 12.52%. As a group, equities analysts anticipate that Parkland will post 3.1594793 earnings per share for the current fiscal year.

Parkland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 21st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $1.40 dividend on an annualized basis and a yield of 3.63%. Parkland’s payout ratio is 64.52%.

Insider Buying and Selling

In other news, Senior Officer Marcel Teunissen bought 1,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of C$40.35 per share, for a total transaction of C$40,350.00. 20.51% of the stock is owned by corporate 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.