What is Cormark’s Forecast for K-Bro Linen FY2024 Earnings?

K-Bro Linen Inc. (TSE:KBL) – Equities research analysts at Cormark cut their FY2024 earnings estimates for K-Bro Linen in a report released on Monday, November 18th. Cormark analyst K. Mcphee now expects that the company will post earnings per share of $1.66 for the year, down from their previous forecast of $2.18. The consensus estimate for K-Bro Linen’s current full-year earnings is $2.34 per share. Cormark also issued estimates for K-Bro Linen’s FY2025 earnings at $2.33 EPS.

Several other equities analysts have also issued reports on the company. Raymond James lifted their target price on K-Bro Linen from C$40.00 to C$45.00 in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective on shares of K-Bro Linen from C$45.00 to C$46.00 in a research report on Friday, November 15th. Finally, TD Securities boosted their price objective on shares of K-Bro Linen from C$46.00 to C$48.00 in a research note on Friday, November 15th.

K-Bro Linen Stock Up 2.7 %

Shares of TSE KBL opened at C$36.13 on Wednesday. K-Bro Linen has a 12-month low of C$30.69 and a 12-month high of C$37.74. The stock’s fifty day simple moving average is C$34.67 and its two-hundred day simple moving average is C$34.51. The stock has a market capitalization of C$377.92 million, a PE ratio of 22.30, a price-to-earnings-growth ratio of 3.50 and a beta of 1.08. The company has a current ratio of 1.80, a quick ratio of 0.87 and a debt-to-equity ratio of 107.82.

K-Bro Linen Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 3.32%. The ex-dividend date was Thursday, October 31st. K-Bro Linen’s dividend payout ratio is presently 74.07%.

Insider Transactions at K-Bro Linen

In other K-Bro Linen news, Senior Officer Jeffrey Ronald Gannon sold 1,100 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of C$36.01, for a total value of C$39,611.00. Insiders own 3.25% 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.