Parkland (TSE:PKI) Given New C$47.00 Price Target at Canaccord Genuity Group

Parkland (TSE:PKI) had its target price cut by Canaccord Genuity Group from C$48.00 to C$47.00 in a research report report published on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

PKI has been the topic of a number of other reports. Royal Bank of Canada dropped their price target on shares of 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. Desjardins dropped their price target on shares of Parkland from C$48.00 to C$46.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Cormark decreased their target price on shares of Parkland from C$53.00 to C$49.00 in a report on Friday, August 2nd. National Bankshares decreased their target price on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, TD Securities decreased their target price on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$49.92.

Parkland Stock Up 0.3 %

PKI opened at C$35.43 on Thursday. The stock has a market cap of C$6.17 billion, a price-to-earnings ratio of 16.63, a PEG 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. The company’s 50-day moving average price is C$35.59 and its two-hundred day moving average price is C$38.23. Parkland has a twelve month low of C$34.17 and a twelve month high of C$47.99.

Parkland (TSE:PKI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.06. The company had revenue of C$7.50 billion for the quarter, compared to analysts’ expectations of C$7.92 billion. Parkland had a net margin of 1.23% and a return on equity of 12.26%. As a group, equities analysts expect that Parkland will post 3.6022267 earnings per share for the current year.

Parkland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, September 19th. Parkland’s payout ratio is 65.73%.

Insider Transactions at Parkland

In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased 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

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.