K-Bro Linen Inc. (TSE:KBL – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$33.95 and traded as high as C$34.13. K-Bro Linen shares last traded at C$33.98, with a volume of 2,870 shares changing hands.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Acumen Capital raised their price target 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 raised their price target on K-Bro Linen from C$45.00 to C$46.00 and gave the company a “buy” rating in a report on Wednesday, May 8th.
View Our Latest Research Report on KBL
K-Bro Linen Stock Up 2.0 %
K-Bro Linen (TSE:KBL – Get Free Report) last posted its earnings results on Monday, May 6th. The company reported C$0.17 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.29 by C($0.12). K-Bro Linen had a return on equity of 9.90% and a net margin of 5.27%. The firm had revenue of C$80.23 million for the quarter, compared to analyst estimates of C$77.77 million. As a group, sell-side analysts expect that K-Bro Linen Inc. will post 1.9474586 EPS for the current year.
K-Bro Linen Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Friday, June 28th. K-Bro Linen’s dividend payout ratio is currently 74.07%.
Insider Transactions at K-Bro Linen
In other news, Senior Officer Ryo Utahara sold 1,400 shares of K-Bro Linen stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$32.40, for a total transaction of C$45,360.00. Insiders own 3.14% 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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