Brokerages Set Parkland Co. (TSE:PKI) Target Price at C$50.38

Parkland Co. (TSE:PKI) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$50.38.

A number of analysts have issued reports on the company. Cormark cut their target price on Parkland from C$53.00 to C$49.00 in a research report on Friday, August 2nd. Royal Bank of Canada cut their target price on Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Desjardins cut their target price on Parkland from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. ATB Capital cut their target price on Parkland from C$54.00 to C$52.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, National Bankshares dropped their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd.

Parkland Stock Up 0.7 %

PKI stock opened at C$36.38 on Friday. The firm has a market cap of C$6.33 billion, a PE ratio of 17.08, a PEG ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. The firm’s 50 day moving average price is C$35.66 and its 200-day moving average price is C$38.44. Parkland has a one year low of C$34.17 and a one year high of C$47.99.

Parkland (TSE:PKI) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating the consensus estimate of C$0.82 by C$0.06. The firm had revenue of C$7.50 billion for the quarter, compared to analyst estimates of C$7.92 billion. Parkland had a net margin of 1.23% and a return on equity of 12.26%. On average, equities research analysts anticipate that Parkland will post 3.6022267 EPS for the current year.

Parkland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 20th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.85%. Parkland’s payout ratio is currently 65.73%.

Insider Buying and Selling

In other news, Senior Officer Marcel Teunissen bought 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of C$36.52 per share, for a total transaction of C$36,520.00. 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.