TD Securities Trims Parkland (TSE:PKI) Target Price to C$53.00

Parkland (TSE:PKI) had its price objective lowered by TD Securities from C$55.00 to C$53.00 in a research note published on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. ATB Capital reduced their price objective on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets dropped their target price on shares of Parkland from C$52.00 to C$49.00 in a report on Thursday, August 1st. National Bankshares cut their price objective on Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. Finally, Cormark lowered their price objective on shares of Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$49.92.

Parkland Stock Performance

Shares of PKI stock opened at C$35.43 on Wednesday. Parkland has a fifty-two week low of C$34.17 and a fifty-two week high of C$47.99. The stock’s 50-day moving average is C$35.59 and its two-hundred day moving average is C$38.26. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. The firm has a market cap of C$6.17 billion, a P/E ratio of 16.63, a PEG ratio of 11.79 and a beta of 1.33.

Parkland (TSE:PKI) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.06. The firm had revenue of C$7.50 billion for the quarter, compared to the consensus estimate of C$7.92 billion. Parkland had a return on equity of 12.26% and a net margin of 1.23%. Analysts predict that Parkland will post 3.6022267 earnings per share for the current fiscal year.

Parkland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were paid a $0.35 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a yield of 3.95%. Parkland’s payout ratio is currently 65.73%.

Insiders Place Their Bets

In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of C$36.52 per share, with a total value of C$36,520.00. 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.