Parkland (TSE:PKI) Price Target Lowered to C$47.00 at Raymond James

Parkland (TSE:PKI) had its target price decreased by Raymond James from C$55.00 to C$47.00 in a research note released on Friday morning, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. ATB Capital dropped their price objective on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Desjardins reduced their price target on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Parkland from C$54.00 to C$53.00 in a research note on Tuesday, September 17th. TD Securities lowered their target price on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lowered their price target on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$49.31.

Parkland Stock Performance

Shares of TSE PKI opened at C$34.44 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 206.76. The stock’s 50-day moving average is C$35.48 and its 200 day moving average is C$37.97. The stock has a market cap of C$6.00 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 11.79 and a beta of 1.33. Parkland has a 1-year low of C$33.61 and a 1-year high of C$47.99.

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

Parkland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a yield of 4.07%. Parkland’s dividend payout ratio (DPR) is 65.73%.

Insider Buying and Selling

In other news, Senior Officer Marcel Teunissen acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 owned by corporate insiders.

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.