K-Bro Linen Inc. (TSE:KBL – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.
Wall Street Analysts Forecast Growth
Separately, TD Securities raised their price target 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 Trading Up 0.6 %
K-Bro Linen (TSE:KBL – Get Free Report) last released its quarterly earnings results 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). The firm had revenue of C$82.46 million during the quarter, compared to analyst estimates of C$80.10 million. K-Bro Linen had a return on equity of 10.03% and a net margin of 5.49%. As a group, equities analysts expect that K-Bro Linen Inc. will post 2.0010983 earnings per share for the current fiscal year.
K-Bro Linen Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date 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.
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