Parkland (TSE:PKI) Price Target Cut to C$45.00 by Analysts at Canaccord Genuity Group

Parkland (TSE:PKI) had its target price lowered by Canaccord Genuity Group from C$47.00 to C$45.00 in a report published on Friday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on PKI. CIBC dropped their price target on shares of Parkland from C$50.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday. Desjardins cut their target price on Parkland from C$46.00 to C$44.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. National Bankshares decreased their price target on Parkland from C$47.00 to C$45.00 and set a “buy” rating for the company in a research note on Friday. Raymond James cut their price objective on Parkland from C$55.00 to C$47.00 in a research report on Friday, October 25th. Finally, ATB Capital decreased their target price on Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$47.38.

Parkland Trading Up 1.7 %

Shares of Parkland stock traded up C$0.56 on Friday, reaching C$32.96. The company had a trading volume of 516,712 shares, compared to its average volume of 526,856. The firm has a market cap of C$5.74 billion, a price-to-earnings ratio of 15.47, 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 current ratio of 1.33 and a quick ratio of 0.73. The firm’s 50-day moving average price is C$35.22 and its two-hundred day moving average price is C$37.68. Parkland has a 1 year low of C$32.00 and a 1 year high of C$47.99.

Parkland (TSE:PKI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping the consensus estimate 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. As a group, research analysts predict that Parkland will post 3.6022267 earnings per share for the current fiscal year.

Parkland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.40 annualized dividend and a dividend yield of 4.25%. Parkland’s payout ratio is currently 65.73%.

Insider Buying and Selling

In other Parkland news, Senior Officer Marcel Teunissen bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of C$36.52 per share, with a total value of C$36,520.00. 20.51% of the stock is owned by insiders.

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.