Q3 Earnings Forecast for Parkland Issued By Atb Cap Markets

Parkland Co. (TSE:PKI) – Equities research analysts at Atb Cap Markets reduced their Q3 2024 earnings per share estimates for Parkland in a report issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $0.60 for the quarter, down from their previous estimate of $0.77. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share. Atb Cap Markets also issued estimates for Parkland’s FY2024 earnings at $2.68 EPS.

Several other equities analysts have also commented on PKI. JPMorgan Chase & Co. cut their price target on Parkland from C$54.00 to C$53.00 in a research note on Tuesday, September 17th. Canaccord Genuity Group cut their price target on 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. Royal Bank of Canada cut their price target on Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Cormark cut their price target on Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Finally, ATB Capital cut their price target on Parkland from C$54.00 to C$52.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$49.54.

Parkland Stock Performance

Shares of Parkland stock opened at C$34.24 on Thursday. The firm has a market cap of C$5.96 billion, a P/E ratio of 16.08, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 206.76. Parkland has a 12 month low of C$33.61 and a 12 month high of C$47.99. The stock’s fifty day moving average price is C$35.51 and its 200-day moving average price is C$38.03.

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

Insiders Place Their Bets

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

Parkland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.09%. The ex-dividend date was Thursday, September 19th. Parkland’s dividend payout ratio is presently 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.