Desjardins Cuts Parkland (TSE:PKI) Price Target to C$44.00

Parkland (TSE:PKI) had its price objective cut by Desjardins from C$46.00 to C$44.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on PKI. JPMorgan Chase & Co. decreased their target price on shares of Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. 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. BMO Capital Markets cut their price objective on Parkland from C$49.00 to C$46.00 in a research report on Tuesday. Royal Bank of Canada decreased their price objective on Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, TD Securities dropped their price objective on shares of Parkland from C$55.00 to C$53.00 and set a “buy” rating on the stock in a research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$49.31.

Parkland Price Performance

TSE:PKI opened at C$34.44 on Wednesday. Parkland has a one year low of C$33.61 and a one year high of C$47.99. The stock has a market cap of C$6.00 billion, a PE ratio of 16.17, a P/E/G 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. The stock has a 50 day moving average price of C$35.48 and a 200 day moving average price of C$37.97.

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

Parkland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th were issued a $0.35 dividend. The ex-dividend date was Thursday, September 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.07%. Parkland’s payout ratio is 65.73%.

Insider Buying and Selling

In related news, Senior Officer Marcel Teunissen acquired 1,000 shares of Parkland stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of C$36.52 per share, with a total value of C$36,520.00. Corporate insiders own 20.51% of the company’s stock.

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.