Parkland (TSE:PKI) Given New C$50.00 Price Target at Royal Bank of Canada

Parkland (TSE:PKI) had its target price reduced by Royal Bank of Canada from C$54.00 to C$50.00 in a report issued on Monday, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. TD Securities lifted their price objective on Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. BMO Capital Markets decreased their price target on Parkland from C$57.00 to C$55.00 in a research note on Tuesday, April 2nd. Scotiabank boosted their price objective on shares of Parkland from C$50.00 to C$60.00 and gave the company an outperform rating in a report on Thursday, February 29th. National Bankshares dropped their price target on shares of Parkland from C$50.00 to C$49.00 and set an outperform rating for the company in a research report on Thursday, February 29th. Finally, CIBC upped their price objective on shares of Parkland from C$50.00 to C$57.00 and gave the stock an outperform rating in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of C$51.46.

Parkland Stock Up 0.7 %

PKI stock opened at C$43.30 on Monday. The stock has a market capitalization of C$7.61 billion, a P/E ratio of 16.46, a P/E/G ratio of 11.79 and a beta of 1.38. Parkland has a 52 week low of C$30.29 and a 52 week high of C$47.99. The firm has a 50-day simple moving average of C$43.84 and a 200-day simple moving average of C$43.45. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 199.87.

Parkland (TSE:PKI) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$0.84 EPS for the quarter, topping the consensus estimate of C$0.64 by C$0.20. Parkland had a return on equity of 15.15% and a net margin of 1.45%. The firm had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Equities analysts forecast that Parkland will post 3.302673 earnings per share for the current fiscal year.

Parkland Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from Parkland’s previous quarterly dividend of $0.34. Parkland’s payout ratio is 53.23%.

Insider Activity at Parkland

In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$44.00, for a total transaction of C$484,000.00. In other news, Senior Officer Robert Berthold Espey sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$44.00, for a total value of C$484,000.00. Also, Senior Officer Darren Robert Smart sold 2,500 shares of Parkland stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of C$44.00, for a total transaction of C$110,000.00. Insiders sold a total of 42,392 shares of company stock valued at $1,867,999 in the last three months. 20.51% of the stock is currently owned by company 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.