K-Bro Linen (TSE:KBL) Share Price Crosses Above 200-Day Moving Average of $31.22

Shares of K-Bro Linen Inc. (TSE:KBL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$31.22 and traded as high as C$34.50. K-Bro Linen shares last traded at C$34.23, with a volume of 1,150 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KBL. Acumen Capital raised their price objective on shares of K-Bro Linen from C$42.00 to C$44.00 in a research note on Thursday, August 10th. National Bankshares increased their target price on shares of K-Bro Linen from C$34.50 to C$36.00 in a report on Thursday, August 10th. Cormark increased their target price on shares of K-Bro Linen from C$38.00 to C$42.00 in a report on Wednesday, May 17th. Finally, TD Securities increased their target price on shares of K-Bro Linen from C$39.00 to C$43.00 and gave the stock a “buy” rating in a report on Thursday, August 10th.

K-Bro Linen Trading Down 0.7 %

The firm has a market cap of C$368.66 million, a P/E ratio of 39.34, a P/E/G ratio of 3.50 and a beta of 1.10. The business’s 50-day moving average is C$33.58 and its two-hundred day moving average is C$31.22. The company has a debt-to-equity ratio of 66.02, a current ratio of 1.93 and a quick ratio of 0.87.

K-Bro Linen (TSE:KBL) last released its earnings results on Tuesday, August 8th. The company reported C$0.44 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.12. The business had revenue of C$80.75 million during the quarter, compared to the consensus estimate of C$77.68 million. K-Bro Linen had a net margin of 3.19% and a return on equity of 5.34%. As a group, analysts predict that K-Bro Linen Inc. will post 1.6693702 earnings per share for the current fiscal year.

K-Bro Linen Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Wednesday, August 30th. K-Bro Linen’s dividend payout ratio (DPR) is currently 137.93%.

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.