K-Bro Linen Inc. (TSE:KBL) to Post FY2023 Earnings of $1.70 Per Share, Cormark Forecasts

K-Bro Linen Inc. (TSE:KBLGet Rating) – Equities researchers at Cormark reduced their FY2023 earnings per share estimates for shares of K-Bro Linen in a research note issued on Friday, November 11th. Cormark analyst now forecasts that the company will post earnings of $1.70 per share for the year, down from their previous forecast of $1.74. The consensus estimate for K-Bro Linen’s current full-year earnings is $1.77 per share.

KBL has been the subject of several other research reports. National Bankshares lowered their price target on K-Bro Linen from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 10th. Stifel Nicolaus lowered their price target on K-Bro Linen from C$47.00 to C$45.00 in a research note on Friday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$42.75.

K-Bro Linen Trading Up 2.4 %

TSE:KBL opened at C$28.26 on Monday. The company has a debt-to-equity ratio of 55.28, a current ratio of 1.78 and a quick ratio of 0.94. K-Bro Linen has a fifty-two week low of C$26.53 and a fifty-two week high of C$38.06. The stock’s 50-day moving average is C$29.44 and its two-hundred day moving average is C$31.12. The stock has a market cap of C$304.50 million and a PE ratio of 62.80.

Insider Activity at K-Bro Linen

In other news, Director Matthew Bruce Hills bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was acquired at an average cost of C$30.11 per share, for a total transaction of C$90,342.00. Following the completion of the purchase, the director now owns 21,228 shares of the company’s stock, valued at approximately C$639,259.99.

K-Bro Linen Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.25%. K-Bro Linen’s payout ratio is 266.67%.

K-Bro Linen Company Profile

(Get Rating)

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, and drapes and other linens.

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Earnings History and Estimates for K-Bro Linen (TSE:KBL)

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