FY2020 EPS Estimates for K-Bro Linen Inc Boosted by Cormark (KBL)

K-Bro Linen Inc (TSE:KBL) – Cormark raised their FY2020 earnings per share estimates for K-Bro Linen in a note issued to investors on Monday, May 13th. Cormark analyst M. Macdougall now anticipates that the company will post earnings per share of $1.57 for the year, up from their prior estimate of $1.55.

K-Bro Linen (TSE:KBL) last announced its earnings results on Wednesday, March 13th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.08 by C$0.02. The business had revenue of C$59.44 million for the quarter, compared to analysts’ expectations of C$57.28 million.

Several other analysts have also recently issued reports on the stock. National Bank Financial upped their target price on shares of K-Bro Linen from C$40.00 to C$41.50 and gave the company an “outperform” rating in a research report on Monday. Echelon Wealth Partners restated a “buy” rating on shares of K-Bro Linen in a research report on Thursday, March 14th.

Shares of TSE KBL opened at C$39.71 on Wednesday. The company has a debt-to-equity ratio of 60.35, a quick ratio of 0.84 and a current ratio of 1.58. The stock has a market cap of $418.49 million and a PE ratio of 69.18. K-Bro Linen has a 12-month low of C$32.00 and a 12-month high of C$40.01.

The company also recently declared a monthly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.20 annualized dividend and a yield of 3.02%. K-Bro Linen’s payout ratio is 209.06%.

K-Bro Linen Company Profile

K-Bro Linen Inc, together with its subsidiaries, engages in the processing, management, and distribution of general linen and operating room linen to healthcare institutions, hotels, and other commercial accounts in Canada. The company also offers other services, including bulk dock-to-dock, exchange cart preparation, delivery of carts, surgical linen, distribution and control of employee uniforms, personal clothing, customer reporting, customer service visiting, and textile procurement services.

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