Parkland (TSE:PKI) Price Target Lowered to C$47.00 at Canaccord Genuity Group

by · The Markets Daily

Parkland (TSE:PKI – Free Report) had its price target reduced by Canaccord Genuity Group from C$48.00 to C$47.00 in a report issued on Thursday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

PKI has been the subject of several other research reports. Cormark reduced their price objective on shares of Parkland from C$53.00 to C$49.00 in a research note on Friday, August 2nd. Desjardins cut their price objective on Parkland from C$48.00 to C$46.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. CIBC cut their price target on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. Finally, BMO Capital Markets decreased their price objective on shares of Parkland from C$52.00 to C$49.00 in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.92.

Read Our Latest Stock Analysis on Parkland

Parkland Stock Down 3.7 %

Shares of PKI opened at C$35.33 on Thursday. The business has a fifty day moving average of C$35.60 and a 200 day moving average of C$38.31. The company has a market cap of C$6.15 billion, a PE ratio of 16.59, a P/E/G ratio of 11.79 and a beta of 1.33. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76. Parkland has a 52-week low of C$34.17 and a 52-week high of C$47.99.

Parkland (TSE:PKI – Get Free Report) last announced its quarterly earnings data 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. Parkland had a net margin of 1.23% and a return on equity of 12.26%. The company had revenue of C$7.50 billion during the quarter, compared to analyst estimates of C$7.92 billion. On average, sell-side analysts expect that Parkland will post 3.6022267 EPS for the current year.

Parkland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 20th were given a $0.35 dividend. 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 3.96%. Parkland’s dividend payout ratio (DPR) is currently 65.73%.

Insider Activity

In other Parkland news, Senior Officer Marcel Teunissen purchased 1,000 shares of Parkland stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price 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

(Get Free Report)

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.

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