Parkland Co. (TSE:PKI) Expected to Post Q2 2022 Earnings of $0.68 Per Share

Parkland Co. (TSE:PKI – Get Rating) – Investment analysts at Raymond James boosted their Q2 2022 earnings estimates for Parkland in a research note issued on Monday, May 9th. Raymond James analyst S. Hansen now anticipates that the company will post earnings per share of $0.68 for the quarter, up from their prior estimate of $0.65. Raymond James has a “Strong-Buy” rating and a $52.00 price target on the stock. Raymond James also issued estimates for Parkland’s Q3 2022 earnings at $0.82 EPS, Q4 2022 earnings at $0.95 EPS and FY2023 earnings at $4.07 EPS.

Other analysts also recently issued reports about the stock. TD Securities decreased their target price on shares of Parkland from C$53.00 to C$50.00 and set a “buy” rating for the company in a research report on Monday, March 7th. National Bankshares decreased their target price on shares of Parkland from C$48.00 to C$45.00 and set an “outperform” rating for the company in a research report on Monday, March 7th. Royal Bank of Canada decreased their target price on shares of Parkland from C$50.00 to C$45.00 and set an “outperform” rating for the company in a research report on Friday. Desjardins reissued a “buy” rating and issued a C$49.00 target price on shares of Parkland in a research report on Wednesday, April 13th. Finally, Scotiabank boosted their target price on shares of Parkland from C$44.00 to C$45.00 in a research report on Friday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$48.17.

Shares of PKI opened at C$34.09 on Tuesday. The company’s 50 day moving average price is C$34.98 and its 200 day moving average price is C$34.71. Parkland has a 52 week low of C$31.18 and a 52 week high of C$41.89. The company has a market capitalization of C$5.30 billion and a PE ratio of 53.27. The company has a debt-to-equity ratio of 238.25, a quick ratio of 0.75 and a current ratio of 1.39.

Parkland (TSE:PKI – Get Rating) last announced its quarterly earnings data on Thursday, March 3rd. The company reported C$0.36 EPS for the quarter, beating analysts’ consensus estimates of C$0.25 by C$0.11. The company had revenue of C$6.29 billion for the quarter, compared to analysts’ expectations of C$5.50 billion.

In related news, Senior Officer Robert Berthold Espey sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of C$35.93, for a total transaction of C$215,550.00. Following the completion of the transaction, the insider now directly owns 666,130 shares in the company, valued at approximately C$23,930,720.25.

About Parkland (Get Rating)

Parkland Corporation operates food and convenience stores in Canada, the United States, the Caribbean region, and Central and South America. The company operates through four segments: Canada, USA, Supply, and International. The Canada segment owns, operates, supports, and distributes a coast-to-coast network of retail convenience, food, and fuel sites, as well as commercial cardlocks and bulk fuel facilities; and provides propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers.

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