Cormark Research Analysts Boost Earnings Estimates for K-Bro Linen Inc. (TSE:KBL)

K-Bro Linen Inc. (TSE:KBL) – Analysts at Cormark boosted their FY2024 EPS estimates for K-Bro Linen in a research note issued to investors on Wednesday, May 1st. Cormark analyst K. Mcphee now anticipates that the company will earn $2.19 per share for the year, up from their previous forecast of $2.16. The consensus estimate for K-Bro Linen’s current full-year earnings is $2.00 per share.

K-Bro Linen (TSE:KBL) last released its quarterly earnings data on Thursday, March 21st. The company reported C$0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.61 by C($0.21). K-Bro Linen had a return on equity of 10.03% and a net margin of 5.49%. The business had revenue of C$82.46 million during the quarter, compared to analyst estimates of C$80.10 million.

KBL has been the topic of a number of other reports. Acumen Capital increased their price objective on shares of K-Bro Linen from C$46.00 to C$47.50 and gave the company a “buy” rating in a research note on Wednesday. TD Securities lifted their price objective on shares of K-Bro Linen from C$43.00 to C$45.00 and gave the company a “buy” rating in a research report on Monday, March 25th.

K-Bro Linen Price Performance

KBL opened at C$34.76 on Thursday. The company has a fifty day simple moving average of C$34.64 and a 200 day simple moving average of C$33.93. The firm has a market cap of C$367.76 million, a price-to-earnings ratio of 21.20, a PEG ratio of 3.50 and a beta of 1.11. K-Bro Linen has a twelve month low of C$28.21 and a twelve month high of C$37.04. The company has a current ratio of 1.73, a quick ratio of 0.87 and a debt-to-equity ratio of 70.83.

K-Bro Linen Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.45%. K-Bro Linen’s dividend payout ratio is currently 73.17%.

K-Bro Linen Company Profile

K-Bro Linen Inc, together with its subsidiaries, provides laundry and linen services to healthcare institutions, hotels, and other commercial organizations in Canada and the United Kingdom. Its services include processing, management, and distribution of general and operating room linens, such as sheets, blankets, towels, surgical gowns, tablecloths, and drapes and other linens.