Parkland (TSE:PKI) Sets New 1-Year Low Following Analyst Downgrade

Shares of Parkland Co. (TSE:PKI) hit a new 52-week low during trading on Wednesday after Desjardins lowered their price target on the stock from C$46.00 to C$44.00. Desjardins currently has a buy rating on the stock. Parkland traded as low as C$34.08 and last traded at C$34.17, with a volume of 23387 shares. The stock had previously closed at C$34.37.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Parkland from C$49.00 to C$46.00 in a research note on Tuesday. Canaccord Genuity Group cut their target price on shares of Parkland from C$48.00 to C$47.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. CIBC cut their target price on shares of Parkland from C$55.00 to C$54.00 in a research note on Thursday, July 18th. TD Securities cut their target price on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, Cormark cut their target price on shares of Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$49.54.

Insider Transactions at Parkland

In related news, Senior Officer Marcel Teunissen acquired 1,000 shares of Parkland stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of C$36.52 per share, for a total transaction of C$36,520.00. Company insiders own 20.51% of the company’s stock.

Parkland Price Performance

The company’s 50-day moving average is C$35.58 and its 200-day moving average is C$38.08. 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 firm has a market capitalization of C$5.95 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 11.79 and a beta of 1.33.

Parkland (TSE:PKI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.06. The firm 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%. On average, research analysts expect that Parkland Co. will post 3.6022267 earnings per share for the current year.

Parkland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of ∞. Parkland’s payout ratio is currently 65.73%.

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.