Q1 2024 Earnings Estimate for Parkland Co. (TSE:PKI) Issued By Atb Cap Markets

Parkland Co. (TSE:PKI) – Investment analysts at Atb Cap Markets cut their Q1 2024 earnings per share estimates for Parkland in a research note issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will earn $0.09 per share for the quarter, down from their previous estimate of $0.61. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Atb Cap Markets also issued estimates for Parkland’s FY2024 earnings at $2.90 EPS.

Parkland (TSE:PKI) last posted its quarterly earnings results 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. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The firm had revenue of C$7.75 billion during the quarter, compared to the consensus estimate of C$8.41 billion.

A number of other research firms also recently issued reports on PKI. Royal Bank of Canada lowered their price target on Parkland from C$54.00 to C$50.00 in a research report on Monday, April 15th. Scotiabank boosted their price target on Parkland from C$50.00 to C$60.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target on Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. 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. Finally, BMO Capital Markets decreased their target price on Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$51.69.

Parkland Price Performance

PKI stock opened at C$43.15 on Friday. The stock has a 50-day moving average price of C$43.63 and a two-hundred day moving average price of C$43.57. Parkland has a 12-month low of C$30.29 and a 12-month high of C$47.99. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 199.87. The company has a market cap of C$7.58 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38.

Insider Buying and Selling

In related news, Senior Officer Darren Robert Smart sold 1,000 shares of the business’s stock in a transaction dated 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 other Parkland news, Senior Officer Robert Berthold Espey sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total transaction of C$484,000.00. Also, Senior Officer Darren Robert Smart sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$43.00, for a total value of C$43,000.00. Over the last 90 days, insiders have sold 42,392 shares of company stock worth $1,867,999. 20.51% of the stock is currently owned by corporate insiders.

Parkland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were paid a $0.35 dividend. This is a boost from Parkland’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 3.24%. Parkland’s payout ratio is 53.23%.

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.