Parkland (TSE:PKI) Price Target Cut to C$54.00 by Analysts at JPMorgan Chase & Co.

Parkland (TSE:PKI) had its price target reduced by JPMorgan Chase & Co. from C$56.00 to C$54.00 in a report issued on Tuesday, BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. TD Securities boosted their target price on shares of Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a research note on Tuesday, February 6th. BMO Capital Markets reduced their price objective on shares of Parkland from C$57.00 to C$55.00 in a research note on Tuesday, April 2nd. Scotiabank boosted their price objective on shares of Parkland from C$50.00 to C$60.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Royal Bank of Canada dropped their target price on shares of Parkland from C$54.00 to C$50.00 in a report on Monday, April 15th. Finally, National Bankshares dropped their target price on shares of Parkland from C$50.00 to C$49.00 and set an outperform rating on the stock in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of C$51.46.

Parkland Stock Down 2.6 %

TSE PKI opened at C$42.19 on Tuesday. The company has a 50 day moving average of C$43.79 and a 200-day moving average of C$43.47. The company has a market cap of C$7.42 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 11.79 and a beta of 1.38. 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 has a 1-year low of C$30.29 and a 1-year high of C$47.99.

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

Parkland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 3.32%. This is a positive change from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio is currently 53.23%.

Insider Activity

In other news, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$43.75, for a total transaction of C$328,125.00. In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’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. Over the last 90 days, insiders have sold 42,392 shares of company stock worth $1,867,999. Company insiders own 20.51% of the company’s stock.

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.