K-Bro Linen Inc. (TSE:KBL – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$37.39 and last traded at C$36.73, with a volume of 3013 shares. The stock had previously closed at C$37.56.
Wall Street Analyst Weigh In
KBL has been the subject of several analyst reports. Acumen Capital upped their target price on K-Bro Linen from C$46.00 to C$47.50 and gave the company a “buy” rating in a research note on Wednesday, May 1st. TD Securities boosted their target price on shares of K-Bro Linen from C$45.00 to C$46.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Raymond James lifted their price objective on K-Bro Linen from C$40.00 to C$45.00 in a report on Thursday, August 8th.
Read Our Latest Stock Analysis on KBL
K-Bro Linen Trading Down 2.4 %
K-Bro Linen (TSE:KBL – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$0.59 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.51 by C$0.08. The business had revenue of C$93.47 million for the quarter, compared to analysts’ expectations of C$88.57 million. K-Bro Linen had a net margin of 5.03% and a return on equity of 9.76%. Equities research analysts forecast that K-Bro Linen Inc. will post 1.9897795 earnings per share for the current year.
K-Bro Linen Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, September 13th. Shareholders of record on Saturday, August 31st will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Friday, August 30th. K-Bro Linen’s payout ratio is 74.07%.
Insider Activity at K-Bro Linen
In other news, Senior Officer Ryo Utahara sold 1,400 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$32.40, for a total transaction of C$45,360.00. Company insiders own 3.27% of the company’s stock.
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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