National Bank Financial Research Analysts Cut Earnings Estimates for Parkland Co. (TSE:PKI)

Parkland Co. (TSE:PKI) – Analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for Parkland in a research report issued on Monday, July 22nd. National Bank Financial analyst V. Shreedhar now forecasts that the company will earn $2.97 per share for the year, down from their previous estimate of $3.18. The consensus estimate for Parkland’s current full-year earnings is $3.16 per share. National Bank Financial also issued estimates for Parkland’s FY2025 earnings at $3.62 EPS.

Parkland (TSE:PKI) last released its earnings results on Wednesday, May 1st. The company reported C$0.25 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.19. The firm had revenue of C$6.94 billion for the quarter, compared to the consensus estimate of C$8.13 billion. Parkland had a return on equity of 12.52% and a net margin of 1.25%.

Other equities analysts also recently issued reports about the company. National Bankshares cut their price objective on 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 lowered their target price on Parkland from C$50.00 to C$49.00 in a research note on Wednesday. Desjardins lowered their target price on Parkland from C$51.00 to C$48.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. Finally, CIBC lowered their target price on Parkland from C$55.00 to C$54.00 in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$50.69.

Parkland Stock Performance

Parkland stock opened at C$38.01 on Thursday. The stock’s 50-day moving average is C$38.42 and its 200-day moving average is C$41.90. The company has a market cap of C$6.64 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 11.79 and a beta of 1.37. 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.

Insider Buying and Selling at Parkland

In other news, Senior Officer Marcel Teunissen purchased 1,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were bought at an average cost of C$40.35 per share, for a total transaction of C$40,350.00. 20.51% of the stock is owned by company insiders.

Parkland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 21st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, June 20th. Parkland’s payout ratio is currently 64.52%.

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.