Desjardins Cuts Parkland (TSE:PKI) Price Target to C$48.00

Parkland (TSE:PKI) had its price target cut by Desjardins from C$51.00 to C$48.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. CIBC lowered their price objective on shares of Parkland from C$55.00 to C$54.00 in a research report on Thursday, July 18th. National Bankshares decreased their price target on shares of Parkland from C$52.00 to C$49.00 and set an outperform rating for the company in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Parkland from C$56.00 to C$54.00 in a research report on Tuesday, April 16th. Royal Bank of Canada reduced their price objective on shares of Parkland from C$54.00 to C$50.00 in a research note on Monday, April 15th. Finally, BMO Capital Markets cut their target price on shares of Parkland from C$55.00 to C$52.00 in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of C$50.69.

Parkland Stock Performance

TSE PKI opened at C$37.82 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.37 and a debt-to-equity ratio of 210.21. The company has a market capitalization of C$6.61 billion, a P/E ratio of 17.43, a P/E/G ratio of 11.79 and a beta of 1.37. Parkland has a 12-month low of C$35.00 and a 12-month high of C$47.99. The firm has a 50-day moving average price of C$38.38 and a two-hundred day moving average price of C$41.88.

Parkland (TSE:PKI) last issued its earnings results on Wednesday, May 1st. The company reported C$0.25 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.19. The company 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%. Analysts anticipate that Parkland will post 3.1594793 earnings per share for the current year.

Parkland Dividend Announcement

The firm 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. This represents a $1.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, June 20th. Parkland’s dividend payout ratio (DPR) is presently 64.52%.

Insider Buying and Selling

In related news, Senior Officer Marcel Teunissen acquired 1,000 shares of Parkland stock in a transaction on Wednesday, May 8th. The shares were acquired at an average cost of C$40.35 per share, with a total value of C$40,350.00. 20.51% of the stock is owned by insiders.

About Parkland

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.