Parkland (TSE:PKI) Price Target Raised to C$55.00 at TD Securities

Parkland (TSE:PKI) had its price objective hoisted by TD Securities from C$53.00 to C$55.00 in a report issued on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on PKI. National Bankshares reduced their price objective 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, July 23rd. Royal Bank of Canada reduced their price objective on shares of Parkland from C$50.00 to C$49.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on shares of Parkland from C$56.00 to C$54.00 in a report on Tuesday, April 16th. Desjardins reduced their price objective on shares of Parkland from C$51.00 to C$48.00 and set a buy rating on the stock in a report on Tuesday, July 23rd. Finally, Cormark dropped their target price on Parkland from C$53.00 to C$49.00 in a research report on Friday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of C$50.46.

Parkland Stock Down 2.7 %

TSE PKI opened at C$36.00 on Friday. Parkland has a 52 week low of C$35.00 and a 52 week 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. The business’s fifty day simple moving average is C$38.22 and its 200-day simple moving average is C$41.59. The firm has a market cap of C$6.29 billion, a PE ratio of 16.59, a P/E/G ratio of 11.79 and a beta of 1.37.

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

Parkland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 21st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, June 20th. Parkland’s dividend payout ratio is presently 64.52%.

Insider Transactions at Parkland

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