Parkland (TSE:PKI) Reaches New 1-Year Low – Here’s What Happened

Parkland Co. (TSE:PKI) shares reached a new 52-week low on Tuesday . The company traded as low as C$33.69 and last traded at C$33.79, with a volume of 98448 shares changing hands. The stock had previously closed at C$34.39.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. ATB Capital cut 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. National Bankshares cut their price objective on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. CIBC cut their price objective on shares of Parkland from C$55.00 to C$54.00 in a report on Thursday, July 18th. Cormark lowered their price target on shares of Parkland from C$53.00 to C$49.00 in a research report on Friday, August 2nd. Finally, BMO Capital Markets reduced their target price on shares of Parkland from C$49.00 to C$46.00 in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$49.31.

Parkland Stock Down 4.2 %

The business’s 50 day moving average price is C$35.35 and its 200-day moving average price is C$37.78. The firm has a market capitalization of C$5.64 billion, a PE ratio of 15.21, 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.

Parkland (TSE:PKI) last announced its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share 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 firm had revenue of C$7.50 billion for the quarter, compared to the consensus estimate of C$7.92 billion. As a group, equities research analysts forecast that Parkland Co. will post 3.6022267 earnings per share for the current year.

Parkland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.32%. The ex-dividend date was Thursday, September 19th. 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 that occurred on Tuesday, August 27th. The shares were purchased at an average cost 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.