K-Bro Linen (TSE:KBL) Shares Pass Above 200-Day Moving Average of $33.77

K-Bro Linen Inc. (TSE:KBL) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$33.77 and traded as high as C$35.12. K-Bro Linen shares last traded at C$34.96, with a volume of 4,445 shares.

Analysts Set New Price Targets

Separately, TD Securities upped their price objective on K-Bro Linen from C$43.00 to C$45.00 and gave the stock a “buy” rating in a report on Monday, March 25th.

K-Bro Linen Stock Up 0.6 %

The company has a debt-to-equity ratio of 70.83, a quick ratio of 0.87 and a current ratio of 1.73. The company has a fifty day moving average of C$34.49 and a two-hundred day moving average of C$33.77. The company has a market cap of C$369.88 million, a PE ratio of 21.32, a price-to-earnings-growth ratio of 3.50 and a beta of 1.11.

K-Bro Linen (TSE:KBL) last issued its quarterly earnings data on Thursday, March 21st. The company reported C$0.40 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.21). K-Bro Linen had a net margin of 5.49% and a return on equity of 10.03%. The company had revenue of C$82.46 million for the quarter, compared to the consensus estimate of C$80.10 million. As a group, analysts anticipate that K-Bro Linen Inc. will post 2.0010983 earnings per share for the current fiscal year.

K-Bro Linen Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, April 29th. K-Bro Linen’s payout ratio is currently 73.17%.

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.