Scotiabank Issues Negative Forecast for Parkland Earnings

Parkland Co. (TSE:PKI) – Equities researchers at Scotiabank lowered their Q4 2024 earnings per share (EPS) estimates for Parkland in a research report issued on Thursday, January 23rd. Scotiabank analyst B. Isaacson now expects that the company will post earnings per share of $0.40 for the quarter, down from their prior forecast of $0.52. Scotiabank has a “Outperform” rating and a $52.00 price objective on the stock. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share.

Parkland (TSE:PKI) last issued its earnings results on Wednesday, October 30th. The company reported C$0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.60. Parkland had a net margin of 1.23% and a return on equity of 12.26%. During the same quarter in the prior year, the business earned $1.28 EPS.

Other equities research analysts also recently issued reports about the stock. Raymond James cut their target price on shares of Parkland from C$55.00 to C$47.00 in a research note on Friday, October 25th. Desjardins reduced their target price on Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group dropped their price target on Parkland from C$47.00 to C$45.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. CIBC raised their price objective on shares of Parkland from C$48.00 to C$49.00 in a research report on Wednesday, November 27th. Finally, TD Securities decreased their target price on Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Parkland currently has an average rating of “Buy” and an average price target of C$48.08.

Parkland Stock Performance

Shares of PKI opened at C$33.63 on Monday. The company has a market cap of C$5.86 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33. The firm has a 50-day moving average of C$34.23 and a 200-day moving average of C$35.13. Parkland has a one year low of C$31.68 and a one year high of C$47.99. The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73.

Insider Transactions at Parkland

In other Parkland news, Director James Allan Neate acquired 5,000 shares of Parkland stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of C$33.29 per share, with a total value of C$166,450.00. Also, Director Michael Christian Jennings acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of C$32.02 per share, with a total value of C$128,060.00. Company 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.