Cormark Comments on K-Bro Linen Inc.’s FY2024 Earnings (TSE:KBL)

K-Bro Linen Inc. (TSE:KBL) – Equities research analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for K-Bro Linen in a research note issued on Monday, March 25th. Cormark analyst K. Mcphee now anticipates that the company will post earnings of $2.16 per share for the year, up from their prior estimate of $2.14. The consensus estimate for K-Bro Linen’s current full-year earnings is $2.12 per share. Cormark also issued estimates for K-Bro Linen’s FY2025 earnings at $3.04 EPS.

Separately, TD Securities lifted their target price on K-Bro Linen from C$43.00 to C$45.00 and gave the stock a “buy” rating in a research report on Monday.

K-Bro Linen Stock Up 3.7 %

KBL opened at C$34.55 on Tuesday. The business’s 50-day simple moving average is C$34.05 and its 200-day simple moving average is C$33.29. The company has a debt-to-equity ratio of 59.54, a quick ratio of 0.87 and a current ratio of 1.76. K-Bro Linen has a one year low of C$26.90 and a one year high of C$35.70. The stock has a market capitalization of C$369.34 million, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 3.50 and a beta of 1.11.

K-Bro Linen Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, April 15th. Investors of record on Sunday, March 31st will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 3.47%. The ex-dividend date is Wednesday, March 27th. K-Bro Linen’s dividend payout ratio (DPR) is presently 95.24%.

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.