Raymond James Brokers Lower Earnings Estimates for Parkland

Parkland Co. (TSE:PKI) – Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of Parkland in a research note issued to investors on Friday, November 1st. Raymond James analyst S. Hansen now forecasts that the company will post earnings per share of $2.37 for the year, down from their previous estimate of $2.43. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share. Raymond James also issued estimates for Parkland’s Q4 2024 earnings at $0.61 EPS and FY2025 earnings at $3.11 EPS.

A number of other research firms also recently weighed in on PKI. Cormark dropped their target price on Parkland from C$53.00 to C$49.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Parkland from C$54.00 to C$53.00 in a research note on Tuesday, September 17th. National Bankshares decreased their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Canaccord Genuity Group decreased their price objective on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, ATB Capital decreased their price objective on Parkland from C$49.00 to C$46.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.38.

Parkland Trading Down 1.5 %

Shares of PKI opened at C$31.69 on Monday. The stock has a fifty day moving average price of C$35.15 and a two-hundred day moving average price of C$37.56. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. Parkland has a 52-week low of C$31.68 and a 52-week high of C$47.99. The company has a market cap of C$5.52 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 11.79 and a beta of 1.33.

Parkland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Thursday, September 19th. Parkland’s dividend payout ratio (DPR) is presently 65.73%.

Insider Activity

In other news, Senior Officer Marcel Teunissen bought 1,000 shares of Parkland stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. In other news, Director Michael Christian Jennings bought 4,000 shares of Parkland stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of C$32.02 per share, for a total transaction of C$128,060.00. Also, Senior Officer Marcel Teunissen acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is currently owned by company insiders.

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.