Parkland (TSE:PKI) Hits New 1-Year Low After Analyst Downgrade

Parkland Co. (TSE:PKI)’s share price reached a new 52-week low during mid-day trading on Wednesday after BMO Capital Markets lowered their price target on the stock from C$49.00 to C$46.00. The company traded as low as C$34.08 and last traded at C$34.17, with a volume of 23387 shares changing hands. The stock had previously closed at C$34.37.

A number of other research analysts have also commented on PKI. National Bankshares lowered their price target on Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. ATB Capital decreased their price objective on shares of Parkland from C$54.00 to C$52.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Desjardins lowered their price objective 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. Canaccord Genuity Group cut their target price on Parkland from C$48.00 to C$47.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered their target price on Parkland from C$54.00 to C$53.00 in a report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$49.69.

Insiders Place Their Bets

In related news, Senior Officer Marcel Teunissen purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average price of C$36.52 per share, with a total value of C$36,520.00. Company insiders own 20.51% of the company’s stock.

Parkland Stock Down 0.6 %

The firm’s 50-day moving average is C$35.58 and its 200 day moving average is C$38.08. The firm has a market capitalization of C$5.95 billion, a P/E ratio of 16.14, a PEG 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.

Parkland (TSE:PKI) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.06. The firm had revenue of C$7.50 billion during 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 research analysts predict that Parkland Co. will post 3.6022267 EPS for the current fiscal year.

Parkland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, September 19th. This represents a $1.40 annualized dividend and a dividend yield of 4.10%. Parkland’s dividend payout ratio is 65.73%.

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.