Parkland (TSE:PKI) Hits New 12-Month Low at $34.52

Parkland Co. (TSE:PKI) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$34.52 and last traded at C$34.59, with a volume of 221114 shares. The stock had previously closed at C$34.83.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PKI. Royal Bank of Canada reduced their target price on Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. ATB Capital cut their price objective on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Cormark dropped their target price on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. BMO Capital Markets decreased their price target on shares of Parkland from C$52.00 to C$49.00 in a research note on Thursday, August 1st. Finally, TD Securities boosted their price objective on shares of Parkland from C$53.00 to C$55.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$50.38.

Parkland Trading Up 0.6 %

The company has a debt-to-equity ratio of 206.76, a current ratio of 1.33 and a quick ratio of 0.73. The business has a 50-day moving average price of C$36.45 and a two-hundred day moving average price of C$39.38. The firm has a market cap of C$6.15 billion, a PE ratio of 16.60, a PEG ratio of 11.79 and a beta of 1.34.

Parkland (TSE:PKI) last released its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.82 by C$0.06. The business had revenue of C$7.50 billion for the quarter, compared to analysts’ expectations of C$7.92 billion. Parkland had a net margin of 1.23% and a return on equity of 12.26%.

Parkland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, September 20th. Parkland’s dividend payout ratio is presently 65.73%.

Insider Activity

In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of C$36.52 per share, for a total transaction of C$36,520.00. Corporate 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.