Parkland (TSE:PKI) Price Target Lowered to C$48.00 at Desjardins

Parkland (TSE:PKI) had its price target reduced by Desjardins from C$51.00 to C$48.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on PKI. CIBC dropped their target price on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on shares of Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. National Bankshares dropped their target price on shares of Parkland from C$52.00 to C$49.00 and set an outperform rating on the stock in a report on Tuesday. Royal Bank of Canada dropped their target price on shares of Parkland from C$54.00 to C$50.00 in a report on Monday, April 15th. Finally, BMO Capital Markets dropped their price target on shares of Parkland from C$55.00 to C$52.00 in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of C$50.69.

Parkland Stock Performance

TSE:PKI opened at C$37.82 on Tuesday. The stock has a market cap of C$6.61 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 11.79 and a beta of 1.37. The firm’s fifty day simple moving average is C$38.38 and its 200 day simple moving average is C$41.88. Parkland has a twelve month low of C$35.00 and a twelve month high of C$47.99. The company has a quick ratio of 0.73, a current ratio of 1.37 and a debt-to-equity ratio of 210.21.

Parkland (TSE:PKI) last released its quarterly earnings results on Wednesday, May 1st. The company reported C$0.25 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.19. The business had revenue of C$6.94 billion for the quarter, compared to analysts’ expectations of C$8.13 billion. Parkland had a net margin of 1.25% and a return on equity of 12.52%. As a group, research analysts predict that Parkland will post 3.1594793 EPS for the current year.

Parkland Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 21st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, June 20th. Parkland’s dividend payout ratio is 64.52%.

Insider Buying and Selling

In other news, Senior Officer Marcel Teunissen bought 1,000 shares of Parkland stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average cost of C$40.35 per share, with a total value of C$40,350.00. 20.51% of the stock is currently owned by 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.