Parkland (TSE:PKI) Price Target Lowered to C$50.00 at Royal Bank of Canada

Parkland (TSE:PKI) had its target price cut by Royal Bank of Canada from C$54.00 to C$50.00 in a research report report published on Monday, BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the company. TD Securities upped their target price on Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. CIBC lifted their price objective on shares of Parkland from C$50.00 to C$57.00 and gave the stock an outperform rating in a research note on Tuesday, December 19th. BMO Capital Markets reduced their target price on shares of Parkland from C$57.00 to C$55.00 in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on Parkland from C$51.00 to C$56.00 and gave the company an overweight rating in a report on Monday, March 25th. Finally, Scotiabank lifted their target price on Parkland from C$50.00 to C$60.00 and gave the stock an outperform rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Parkland has an average rating of Moderate Buy and an average price target of C$51.46.

Parkland Stock Performance

PKI opened at C$43.30 on Monday. Parkland has a twelve month low of C$30.29 and a twelve month high of C$47.99. The stock has a market cap of C$7.61 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38. The business’s 50 day moving average is C$43.84 and its 200-day moving average is C$43.45. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87.

Parkland (TSE:PKI) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, beating analysts’ consensus estimates of C$0.64 by C$0.20. The company had revenue of C$7.75 billion for the quarter, compared to analyst estimates of C$8.41 billion. Parkland had a return on equity of 15.15% and a net margin of 1.45%. On average, analysts predict that Parkland will post 3.302673 earnings per share for the current year.

Parkland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.35 per share. This is a positive change from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s dividend payout ratio (DPR) is 53.23%.

Insider Activity

In other news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total value of C$328,125.00. In related news, Senior Officer Robert Berthold Espey sold 7,500 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$43.75, for a total transaction of C$328,125.00. Also, Senior Officer Darren Robert Smart sold 1,000 shares of Parkland stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$43.00, for a total value of C$43,000.00. In the last quarter, insiders have sold 42,392 shares of company stock valued at $1,867,999. 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.