Parkland (TSE:PKI) Price Target Cut to C$54.00 by Analysts at JPMorgan Chase & Co.

Parkland (TSE:PKI) had its price target decreased by JPMorgan Chase & Co. from C$56.00 to C$54.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

Several other research firms have also commented on PKI. TD Securities increased their price objective on shares of Parkland from C$52.00 to C$53.00 and gave the company a buy rating in a research report on Tuesday, February 6th. BMO Capital Markets lowered their price objective on shares of Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. Scotiabank increased their price objective on shares of Parkland from C$50.00 to C$60.00 and gave the company an outperform rating in a research report on Thursday, February 29th. CIBC raised their price objective on shares of Parkland from C$50.00 to C$57.00 and gave the stock an outperform rating in a research note on Tuesday, December 19th. Finally, Royal Bank of Canada dropped their target price on Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$51.46.

Parkland Stock Performance

PKI opened at C$42.19 on Tuesday. The stock has a market capitalization of C$7.42 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 11.79 and a beta of 1.38. The company has a fifty day moving average of C$43.79 and a 200 day moving average of C$43.47. Parkland has a fifty-two week low of C$30.29 and a fifty-two week 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.

Parkland (TSE:PKI) last posted its earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share for the quarter, beating 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 analysts’ expectations of C$8.41 billion. Parkland had a net margin of 1.45% and a return on equity of 15.15%. As a group, sell-side analysts forecast that Parkland will post 3.302673 earnings per share for the current fiscal year.

Parkland Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were paid a $0.35 dividend. This is an increase 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 3.32%. Parkland’s payout ratio is 53.23%.

Insider Buying and Selling

In related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. In other news, Senior Officer Darren Robert Smart sold 5,000 shares of the company’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 Robert Berthold Espey sold 7,500 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$43.75, for a total value of C$328,125.00. Insiders sold 42,392 shares of company stock valued at $1,867,999 over the last 90 days. Corporate insiders own 20.51% of the company’s stock.

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.