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

Parkland Co. (TSE:PKI)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock 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.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Desjardins lowered their price objective on shares of Parkland from C$46.00 to C$44.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Canaccord Genuity Group lowered their price objective on shares of 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. National Bankshares lowered 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 research report on Friday, August 2nd. ATB Capital lowered 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 research report on Friday, August 2nd. Finally, BMO Capital Markets lowered their price objective on shares of Parkland from C$49.00 to C$46.00 in a research report 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. According to MarketBeat.com, Parkland currently has an average rating of “Moderate Buy” and a consensus target price of C$49.31.

Parkland Price Performance

The stock’s 50-day moving average is C$35.35 and its 200 day moving average is C$37.78. 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 company has a market cap of C$5.64 billion, a PE ratio of 15.21, a PEG ratio of 11.79 and a beta of 1.33.

Parkland (TSE:PKI) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of C$7.92 billion. On average, equities analysts anticipate that Parkland Co. will post 3.6022267 earnings per share for the current fiscal year.

Parkland Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.32%. Parkland’s payout ratio is 65.73%.

Insider Activity at Parkland

In other news, Senior Officer Marcel Teunissen bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought 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 currently owned by corporate 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.