Cormark Has Pessimistic View of K-Bro Linen FY2024 Earnings

K-Bro Linen Inc. (TSE:KBL) – Stock analysts at Cormark reduced their FY2024 earnings per share estimates for K-Bro Linen in a research report issued on Monday, November 18th. Cormark analyst K. Mcphee now anticipates that the company will post earnings per share of $1.66 for the year, down from their previous estimate 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.

KBL has been the topic of several other research reports. Raymond James boosted their target price on K-Bro Linen from C$40.00 to C$45.00 in a research report on Thursday, August 8th. Stifel Nicolaus boosted their price objective on shares of K-Bro Linen from C$45.00 to C$46.00 in a research report on Friday, November 15th. Finally, TD Securities raised their target price on shares of K-Bro Linen from C$46.00 to C$48.00 in a report on Friday, November 15th.

K-Bro Linen Trading Up 2.7 %

Shares of KBL stock opened at C$36.13 on Wednesday. The company has a market cap of C$377.92 million, a PE ratio of 22.30, a price-to-earnings-growth ratio of 3.50 and a beta of 1.08. K-Bro Linen has a 1 year low of C$30.69 and a 1 year high of C$37.74. The stock’s 50 day simple moving average is C$34.67 and its two-hundred day simple moving average is C$34.51. The company has a debt-to-equity ratio of 107.82, a current ratio of 1.80 and a quick ratio of 0.87.

K-Bro Linen Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.10 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. K-Bro Linen’s payout ratio is 74.07%.

Insider Buying and Selling

In related news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of C$36.01, for a total value of C$39,611.00. 3.25% of the stock is owned by corporate insiders.

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.