Shares of K-Bro Linen Inc. (TSE:KBL – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$37.39 and last traded at C$36.73, with a volume of 3013 shares. The stock had previously closed at C$37.56.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on KBL shares. Acumen Capital raised their price objective on K-Bro Linen from C$46.00 to C$47.50 and gave the company a “buy” rating in a report on Wednesday, May 1st. TD Securities upped their price objective on shares of K-Bro Linen from C$45.00 to C$46.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Raymond James lifted their price target on K-Bro Linen from C$40.00 to C$45.00 in a research note on Thursday, August 8th.
Read Our Latest Stock Report on KBL
K-Bro Linen Price Performance
K-Bro Linen (TSE:KBL – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported C$0.59 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.51 by C$0.08. The firm had revenue of C$93.47 million for the quarter, compared to the consensus estimate of C$88.57 million. K-Bro Linen had a net margin of 5.03% and a return on equity of 9.76%. On average, analysts forecast that K-Bro Linen Inc. will post 1.9897795 earnings per share for the current fiscal year.
K-Bro Linen Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 13th. Shareholders of record on Saturday, August 31st will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, August 30th. K-Bro Linen’s dividend payout ratio (DPR) is presently 74.07%.
Insider Buying and Selling at K-Bro Linen
In other news, Senior Officer Ryo Utahara sold 1,400 shares of the business’s stock in a transaction that occurred 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. Insiders own 3.27% of the company’s stock.
About K-Bro Linen
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.
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