K-Bro Linen Inc. Forecasted to Post Q3 2024 Earnings of $0.74 Per Share (TSE:KBL)

K-Bro Linen Inc. (TSE:KBL) – Equities research analysts at Raymond James raised their Q3 2024 earnings per share estimates for shares of K-Bro Linen in a research note issued on Wednesday, August 7th. Raymond James analyst M. Glen now forecasts that the company will post earnings per share of $0.74 for the quarter, up from their prior forecast of $0.62. The consensus estimate for K-Bro Linen’s current full-year earnings is $2.38 per share.

A number of other analysts have also recently commented on the company. Acumen Capital boosted their price objective on K-Bro Linen from C$46.00 to C$47.50 and gave the company a “buy” rating in a research report on Wednesday, May 1st. TD Securities boosted their price target on shares of K-Bro Linen from C$45.00 to C$46.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th.

K-Bro Linen Stock Performance

Shares of KBL stock opened at C$36.25 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.87 and a debt-to-equity ratio of 68.49. K-Bro Linen has a 12-month low of C$30.03 and a 12-month high of C$37.73. The business’s 50 day moving average is C$33.64 and its two-hundred day moving average is C$34.18. The company has a market capitalization of C$379.18 million, a P/E ratio of 22.38, a P/E/G ratio of 3.50 and a beta of 1.10.

K-Bro Linen Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, September 13th. Stockholders of record on Saturday, August 31st will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, August 30th. K-Bro Linen’s dividend payout ratio is presently 74.07%.

Insider Buying and Selling

In other K-Bro Linen news, Senior Officer Ryo Utahara sold 1,400 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$32.40, for a total value of C$45,360.00. 3.27% of the stock is owned by company insiders.

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.