National Bank Financial Updates Earnings Predictions for Parkland

National Bank Financial has recently adjusted its earnings forecasts for Parkland Corporation (TSE:PKI), specifically predicting a decrease in earnings per share (EPS) for the fiscal year 2024. In a report released on January 27th, analyst V. Shreedhar estimates that Parkland will achieve EPS of $2.30, down from the previous estimate of $2.39. This figure contrasts with the consensus projection of $3.60 per share for Parkland’s current full-year earnings.

Latest Earnings Results

Parkland Corporation reported its quarterly earnings results on October 30th. The company posted an EPS of C$0.60 for that quarter, which was in line with analyst expectations. The company's net margin stood at 1.23%, and it recorded a return on equity of 12.26%. For comparison, during the same quarter of the previous year, Parkland achieved an EPS of $1.28.

Analyst Ratings and Price Targets

Several analysts have also weighed in on Parkland's stock. National Bankshares lowered their price target for Parkland shares from C$47.00 to C$45.00, maintaining a “buy” rating. Conversely, CIBC raised their target from C$48.00 to C$49.00. On the other hand, TD Securities decreased their target from C$55.00 to C$53.00. Canaccord Genuity Group also adjusted their target price down from C$47.00 to C$45.00, while Desjardins' price target was reduced from C$46.00 to C$44.00. Despite these adjustments, nine analysts still rate Parkland stock as a buy, reflecting an average rating of “Buy” and an average price target of C$48.08 according to data sourced from MarketBeat.com.

Stock Performance

Parkland's stock performance has seen a decline of 2.6%, opening at C$32.35 on Thursday. The company possesses a debt-to-equity ratio of 206.76, alongside a current ratio of 1.33 and a quick ratio of 0.73. Currently, the market capitalization of Parkland stands at C$5.63 billion, with a price-to-earnings ratio of 15.19 and a price-to-earnings-growth ratio of 11.79. The company’s stock has seen a one-year low of C$31.68 and a one-year high of C$47.99.

Insider Activity

In recent insider transactions, Director James Allan Neate purchased 5,000 shares at an average cost of C$33.29 each, totaling a value of C$166,450.00. Another director, Michael Christian Jennings, acquired 4,000 shares at an average cost of C$32.02 per share, accumulating a total investment of C$128,060.00. Insiders currently hold 20.51% of Parkland's stock.

About Parkland

Parkland Corporation operates a range of food and convenience stores across Canada, the United States, and internationally. Its operations in Canada include a comprehensive network of retail gas stations and convenience outlets, as well as services involving fuel distribution through various methods such as ships, rail, and highway carriers. The company also engages in low-carbon initiatives.

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