Raymond James Financial Expects Higher Earnings for Parkland

Key Points

• Analysts at Raymond James have raised their FY2025 earnings per share estimate for Parkland to $2.99, up from the previous estimate of $2.80, while maintaining an "Outperform" rating and a target price of $44.00.
• Multiple analysts, including Scotiabank and BMO Capital Markets, have downgraded their ratings on Parkland, primarily changing from "strong-buy" to "hold," with most target prices around C$44.00.
• Parkland recently increased its quarterly dividend from $0.35 to $0.36, reflecting an annualized dividend of $1.44 and a yield of 3.7%.

Parkland Co. (TSE:PKI - Free Report) - Analysts at Raymond James Financial upped their FY2025 earnings per share estimates for shares of Parkland in a research report issued on Monday, August 11th. Raymond James Financial analyst S. Hansen now expects that the company will earn $2.99 per share for the year, up from their previous forecast of $2.80. Raymond James Financial has a "Outperform" rating and a $44.00 price objective on the stock. The consensus estimate for Parkland's current full-year earnings is $3.60 per share.

A number of other brokerages also recently issued reports on PKI. CIBC downgraded Parkland from an "outperform" rating to a "tender" rating and set a C$44.00 price target for the company. in a report on Monday, June 9th. Scotiabank downgraded Parkland from a "strong-buy" rating to a "hold" rating and set a C$44.00 price target for the company. in a report on Wednesday, June 25th. TD Securities cut Parkland from a "buy" rating to a "sell" rating and cut their target price for the stock from C$50.00 to C$44.00 in a research report on Tuesday, May 6th. National Bankshares lifted their target price on Parkland from C$41.00 to C$42.00 and gave the stock a "tender" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. cut Parkland from an "overweight" rating to a "neutral" rating and cut their target price for the stock from C$54.00 to C$41.00 in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$43.73.

Parkland Stock Down 0.2%

TSE PKI traded down C$0.09 during trading hours on Thursday, hitting C$38.61. 376,148 shares of the company were exchanged, compared to its average volume of 794,294. The company has a 50 day moving average of C$38.39 and a two-hundred day moving average of C$36.88. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 199.87. Parkland has a 52-week low of C$30.09 and a 52-week high of C$40.29. The firm has a market cap of C$6.73 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 11.79 and a beta of 1.33.

Parkland Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 20th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.7%. This is a positive change from Parkland's previous quarterly dividend of $0.35. Parkland's payout ratio is currently 100.88%.

About Parkland

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.