K-Bro Linen Inc. (TSE:KBL) Announces $0.10 Monthly Dividend

K-Bro Linen Inc. (TSE:KBL) announced a monthly dividend on Wednesday, August 7th, Zacks reports. Shareholders of record on Saturday, August 31st will be given a dividend of 0.10 per share on Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, August 30th.

K-Bro Linen Price Performance

Shares of K-Bro Linen stock traded down C$0.13 during trading hours on Friday, hitting C$35.88. The company’s stock had a trading volume of 2,600 shares, compared to its average volume of 12,685. The business has a 50 day moving average price of C$33.55 and a two-hundred day moving average price of C$34.17. K-Bro Linen has a 12-month low of C$30.03 and a 12-month high of C$37.73. The company has a market cap of C$375.30 million, a PE ratio of 22.23, a PEG ratio of 3.50 and a beta of 1.10. The company has a debt-to-equity ratio of 68.49, a quick ratio of 0.87 and a current ratio of 1.64.

K-Bro Linen (TSE:KBL) last announced its quarterly earnings data on Monday, May 6th. The company reported C$0.17 EPS for the quarter, missing the consensus estimate of C$0.29 by C($0.12). K-Bro Linen had a net margin of 5.27% and a return on equity of 9.90%. The business had revenue of C$80.23 million during the quarter, compared to analysts’ expectations of C$77.77 million. Analysts expect that K-Bro Linen will post 2.3841962 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Ryo Utahara sold 1,400 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$32.40, for a total value of C$45,360.00. 3.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Securities boosted their price objective on K-Bro Linen from C$45.00 to C$46.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Acumen Capital boosted their price objective on K-Bro Linen from C$46.00 to C$47.50 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Raymond James boosted their price objective on K-Bro Linen from C$40.00 to C$45.00 in a research report on Thursday.

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.