K-Bro Linen - KBL Stock Forecast, Price & News

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. The company also offers other services, including bulk dock-to-dock, exchange cart preparation, cart delivery, surgical linen, distribution and control of employee uniforms, personal clothing, customer reporting, customer service visiting, and textile procurement services. In addition, it provides linen rental, workwear hire, and cleanroom garment services. K-Bro Linen Inc. was founded in 1954 and is headquartered in Edmonton, Canada.

Analyst Ratings Changes

A number of research firms have recently issued reports on KBL. National Bankshares dropped their price objective on shares of K-Bro Linen from C$38.00 to C$36.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of K-Bro Linen from C$50.00 to C$47.00 in a research note on Wednesday. Finally, Cormark dropped their price objective on shares of K-Bro Linen from C$42.00 to C$38.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$43.00.

K-Bro Linen Price Performance

Shares of TSE:KBL traded up C$0.37 during trading on Wednesday, hitting C$32.70. The company had a trading volume of 6,645 shares, compared to its average volume of 15,235. The stock has a fifty day simple moving average of C$32.18 and a two-hundred day simple moving average of C$32.85. K-Bro Linen has a fifty-two week low of C$29.60 and a fifty-two week high of C$42.97. The firm has a market capitalization of C$350.54 million and a price-to-earnings ratio of 52.74. The company has a quick ratio of 0.75, a current ratio of 1.60 and a debt-to-equity ratio of 50.47.

K-Bro Linen (TSE:KBL - Get Rating) last announced its earnings results on Thursday, May 12th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.09 by C($0.13). The firm had revenue of C$61.43 million for the quarter, compared to analyst estimates of C$59.16 million. On average, research analysts expect that K-Bro Linen will post 1.8999999 earnings per share for the current year.

K-Bro Linen Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 15th. Stockholders of record on Sunday, July 31st will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. K-Bro Linen's dividend payout ratio (DPR) is 193.55%.

Insider Activity

In related news, Senior Officer Ryo Utahara sold 800 shares of the business's stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of C$32.80, for a total transaction of C$26,240.00. Following the transaction, the insider now directly owns 2,732 shares in the company, valued at C$89,609.60.