Parkland Co. to Post Q2 2024 Earnings of $0.98 Per Share, Raymond James Forecasts (TSE:PKI)

Parkland Co. (TSE:PKI) – Research analysts at Raymond James increased their Q2 2024 earnings per share estimates for shares of Parkland in a research report issued to clients and investors on Friday, April 19th. Raymond James analyst S. Hansen now expects that the company will post earnings of $0.98 per share for the quarter, up from their previous forecast of $0.88. The consensus estimate for Parkland’s current full-year earnings is $3.30 per share. Raymond James also issued estimates for Parkland’s Q3 2024 earnings at $1.11 EPS and Q4 2024 earnings at $0.97 EPS.

Parkland (TSE:PKI) last issued its earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, beating the consensus estimate of C$0.64 by C$0.20. Parkland had a net margin of 1.45% and a return on equity of 15.15%. The company had revenue of C$7.75 billion for the quarter, compared to the consensus estimate of C$8.41 billion.

Several other analysts have also weighed in on the stock. National Bankshares raised their price objective on shares of Parkland from C$49.00 to C$52.00 in a report on Monday. BMO Capital Markets cut their price objective on Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their target price on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. TD Securities increased their price objective on shares of Parkland from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Scotiabank upped their target price on shares of Parkland from C$50.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$51.69.

Parkland Trading Up 0.6 %

Shares of PKI stock opened at C$42.71 on Monday. The company has a market capitalization of C$7.51 billion, a P/E ratio of 16.24, a P/E/G ratio of 11.79 and a beta of 1.38. Parkland has a 12-month low of C$30.29 and a 12-month high of C$47.99. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87. The firm has a 50-day moving average price of C$43.68 and a 200 day moving average price of C$43.58.

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 an increase from Parkland’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, March 21st. Parkland’s dividend payout ratio (DPR) is 53.23%.

Insider Buying and Selling at Parkland

In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. In related news, Senior Officer Darren Robert Smart sold 2,500 shares of Parkland stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$44.00, for a total value of C$110,000.00. Also, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total value of C$484,000.00. Over the last quarter, insiders have sold 42,392 shares of company stock valued at $1,867,999. 20.51% of the stock is currently owned by corporate insiders.

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.