Research Analysts Set Expectations for Parkland Co.’s Q2 2024 Earnings (TSE:PKI)

Parkland Co. (TSE:PKI) – Scotiabank reduced their Q2 2024 earnings per share (EPS) estimates for Parkland in a report released on Wednesday, July 24th. Scotiabank analyst B. Isaacson now anticipates that the company will post earnings of $0.82 per share for the quarter, down from their previous forecast of $0.96. The consensus estimate for Parkland’s current full-year earnings is $3.16 per share.

Parkland (TSE:PKI) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C$0.25 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.19. The firm had revenue of C$6.94 billion during the quarter, compared to analysts’ expectations of C$8.13 billion. Parkland had a net margin of 1.25% and a return on equity of 12.52%.

A number of other equities research analysts have also recently weighed in on PKI. JPMorgan Chase & Co. decreased their price objective on Parkland from C$56.00 to C$54.00 in a research note on Tuesday, April 16th. National Bankshares lowered their price target on shares of Parkland from C$52.00 to C$49.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. Desjardins cut their price objective on shares of Parkland from C$51.00 to C$48.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. BMO Capital Markets decreased their target price on shares of Parkland from C$55.00 to C$52.00 in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada cut their price target on shares of Parkland from C$50.00 to C$49.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$50.69.

Parkland Stock Up 2.0 %

Shares of TSE PKI opened at C$38.57 on Friday. Parkland has a 12-month low of C$35.00 and a 12-month high of C$47.99. The stock’s fifty day simple moving average is C$38.36 and its two-hundred day simple moving average is C$41.83. The stock has a market capitalization of C$6.74 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 11.79 and a beta of 1.37. The company has a current ratio of 1.37, a quick ratio of 0.73 and a debt-to-equity ratio of 210.21.

Insider Transactions at Parkland

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of C$40.35 per share, for a total transaction of C$40,350.00. Company insiders own 20.51% of the company’s stock.

Parkland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 21st were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, June 20th. This represents a $1.40 annualized dividend and a yield of 3.63%. Parkland’s payout ratio is presently 64.52%.

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.