National Bank Financial Expects Weaker Earnings for Parkland

Parkland Co. (TSE:PKI - Free Report) - National Bank Financial cut their FY2024 earnings per share estimates for shares of Parkland in a research note issued to investors on Monday, January 27th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings of $2.30 per share for the year, down from their previous forecast of $2.39. The consensus estimate for Parkland's current full-year earnings is $3.60 per share. National Bank Financial also issued estimates for Parkland's FY2025 earnings at $3.06 EPS.

Parkland (TSE:PKI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported C$0.60 EPS for the quarter, meeting analysts' consensus estimates of C$0.60. Parkland had a return on equity of 12.26% and a net margin of 1.23%. During the same period last year, the business posted $1.28 EPS.

Other research analysts have also recently issued research reports about the company. Raymond James decreased their price target on Parkland from C$55.00 to C$47.00 in a research report on Friday, October 25th. ATB Capital cut their price target on shares of Parkland from C$49.00 to C$46.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Scotiabank reduced their price target on shares of Parkland from C$60.00 to C$52.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Canaccord Genuity Group lowered their price objective on shares of Parkland from C$47.00 to C$45.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, TD Securities reduced their target price on Parkland from C$55.00 to C$53.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Parkland currently has an average rating of "Buy" and an average price target of C$48.08.

Parkland Stock Performance

Parkland stock traded down C$0.30 during midday trading on Thursday, hitting C$33.19. The company's stock had a trading volume of 468,310 shares, compared to its average volume of 474,500. 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$5.78 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 11.79 and a beta of 1.33. Parkland has a 1-year low of C$31.68 and a 1-year high of C$47.99. The company has a 50-day moving average price of C$34.22 and a two-hundred day moving average price of C$35.10.

Insider Buying and Selling at Parkland

In related news, Director Michael Christian Jennings purchased 4,000 shares of the business's stock in a transaction on Monday, November 4th. The stock was acquired at an average price of C$32.02 per share, for a total transaction of C$128,060.00. Also, Director James Allan Neate bought 5,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of C$33.29 per share, for a total transaction of C$166,450.00. Insiders own 20.51% of the company's stock.

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.