Parkland Co. (TSE:PKI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Parkland Co. (TSE:PKI) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$44.54.

A number of brokerages have issued reports on PKI. Canaccord Genuity Group reduced their price objective on shares of Parkland from C$45.00 to C$42.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Scotiabank reduced their price objective on shares of Parkland from C$52.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. BMO Capital Markets cut shares of Parkland from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 2nd. National Bankshares raised their price objective on shares of Parkland from C$41.00 to C$42.00 in a research note on Tuesday, May 6th. Finally, TD Securities lowered shares of Parkland from a “buy” rating to a “sell” rating and cut their target price for the stock from C$50.00 to C$44.00 in a report on Tuesday, May 6th.

Parkland Price Performance

PKI opened at C$37.85 on Wednesday. Parkland has a one year low of C$30.09 and a one year high of C$40.29. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.39 and a quick ratio of 0.73. The company’s 50 day simple moving average is C$37.46 and its 200-day simple moving average is C$35.62. The stock has a market capitalization of C$6.60 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 11.79 and a beta of 1.33.

Parkland Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 20th will be issued a dividend of $0.36 per share. This is an increase from Parkland’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 3.80%. Parkland’s payout ratio is presently 100.88%.

About Parkland

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.