Parkland (TSE:PKI) Price Target Cut to C$49.00

Parkland (TSE:PKI) had its price target trimmed by Royal Bank of Canada from C$50.00 to C$49.00 in a research note issued to investors on Wednesday, BayStreet.CA reports.

PKI has been the subject of a number of other research reports. BMO Capital Markets reduced their price objective on Parkland from C$55.00 to C$52.00 in a research report on Tuesday, July 16th. JPMorgan Chase & Co. cut their price target on shares of Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. National Bankshares cut their target price on shares of Parkland from C$52.00 to C$49.00 and set an outperform rating for the company in a research report on Tuesday, July 23rd. Desjardins reduced their price objective on shares of Parkland from C$51.00 to C$48.00 and set a buy rating for the company in a research note on Tuesday, July 23rd. Finally, CIBC decreased their price target on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$50.69.

Parkland Trading Up 2.0 %

TSE PKI opened at C$38.57 on Wednesday. The company has a 50-day moving average of C$38.36 and a 200-day moving average of C$41.83. The company has a debt-to-equity ratio of 210.21, a current ratio of 1.37 and a quick ratio of 0.73. Parkland has a 12 month low of C$35.00 and a 12 month high of C$47.99. The company has a market cap of C$6.74 billion, a P/E ratio of 17.77, a P/E/G ratio of 11.79 and a beta of 1.37.

Parkland (TSE:PKI) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.06 by C$0.19. The company had revenue of C$6.94 billion during the quarter, compared to analyst estimates 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 predict that Parkland will post 3.1594793 earnings per share for the current year.

Parkland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 21st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, June 20th. Parkland’s dividend payout ratio (DPR) is currently 64.52%.

Insider Buying and Selling

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average price 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.

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.