Scotiabank Issues Pessimistic Forecast for Parkland Earnings

Parkland Co. (TSE:PKI) – Analysts at Scotiabank lowered their Q3 2024 earnings estimates for Parkland in a research note issued on Monday, October 21st. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings of $0.55 per share for the quarter, down from their previous forecast of $0.94. The consensus estimate for Parkland’s current full-year earnings is $3.60 per share.

Other equities research analysts have also issued reports about the stock. TD Securities lowered their price objective on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. ATB Capital lowered 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 report on Friday, August 2nd. National Bankshares lowered their price objective on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Cormark decreased their target price on shares of Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group decreased 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. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Parkland presently has an average rating of “Moderate Buy” and a consensus price target of C$49.54.

Parkland Trading Up 0.1 %

Shares of PKI opened at C$34.24 on Thursday. The firm has a market cap of C$5.96 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 11.79 and a beta of 1.33. The company has a debt-to-equity ratio of 206.76, a quick ratio of 0.73 and a current ratio of 1.33. Parkland has a fifty-two week low of C$33.61 and a fifty-two week high of C$47.99. The firm has a 50 day moving average price of C$35.51 and a 200-day moving average price of C$38.03.

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

Parkland Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Thursday, September 19th. Parkland’s payout ratio is currently 65.73%.

Insider Buying and Selling at Parkland

In other Parkland news, Senior Officer Marcel Teunissen bought 1,000 shares of Parkland stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of C$36.52 per share, with a total value of C$36,520.00. 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.