Cormark Has Bearish Forecast for K-Bro Linen FY2024 Earnings

K-Bro Linen Inc. (TSE:KBL) – Equities researchers at Cormark lowered their FY2024 earnings estimates for shares of K-Bro Linen in a report issued on Monday, November 18th. Cormark analyst K. Mcphee now forecasts that the company will earn $1.66 per share for the year, down from their prior forecast of $2.18. The consensus estimate for K-Bro Linen’s current full-year earnings is $2.34 per share. Cormark also issued estimates for K-Bro Linen’s FY2025 earnings at $2.33 EPS.

Several other equities research analysts also recently weighed in on KBL. Stifel Nicolaus upped their price target on K-Bro Linen from C$45.00 to C$46.00 in a report on Friday, November 15th. Raymond James boosted their price target on shares of K-Bro Linen from C$40.00 to C$45.00 in a report on Thursday, August 8th. Finally, TD Securities boosted their target price on shares of K-Bro Linen from C$46.00 to C$48.00 in a research note on Friday, November 15th.

K-Bro Linen Stock Up 0.5 %

K-Bro Linen stock opened at C$35.19 on Wednesday. The firm has a market capitalization of C$368.09 million, a P/E ratio of 21.72, a P/E/G ratio of 3.50 and a beta of 1.08. The stock’s fifty day simple moving average is C$34.66 and its 200-day simple moving average is C$34.49. K-Bro Linen has a twelve month low of C$30.69 and a twelve month high of C$37.74. The company has a current ratio of 1.80, a quick ratio of 0.87 and a debt-to-equity ratio of 107.82.

K-Bro Linen Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.41%. K-Bro Linen’s payout ratio is currently 74.07%.

Insider Transactions at K-Bro Linen

In other K-Bro Linen news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of C$36.01, for a total transaction of C$39,611.00. Insiders own 3.25% of the company’s stock.

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.