Parkland (TSE:PKI) PT Lowered to C$49.00 at Royal Bank of Canada

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

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

Parkland Stock Performance

Shares of PKI opened at C$38.57 on Wednesday. Parkland has a 1 year low of C$35.00 and a 1 year high of C$47.99. The company’s 50 day simple moving average is C$38.36 and its 200 day simple moving average is C$41.84. The company has a market capitalization of C$6.74 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 11.79 and a beta of 1.37. The company has a debt-to-equity ratio of 210.21, a quick ratio of 0.73 and a current ratio of 1.37.

Parkland (TSE:PKI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported C$0.25 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.19. The company had revenue of C$6.94 billion for the quarter, compared to analyst estimates of C$8.13 billion. Parkland had a return on equity of 12.52% and a net margin of 1.25%. On average, sell-side analysts predict that Parkland will post 3.1594793 EPS for the current year.

Parkland Announces Dividend

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

Insider Buying and Selling

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