K-Bro Linen (TSE:KBL) Stock Price Crosses Above Two Hundred Day Moving Average of $39.08

K-Bro Linen Inc (TSE:KBL)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.08 and traded as high as $37.59. K-Bro Linen shares last traded at $37.46, with a volume of 11,595 shares trading hands.

Separately, Cormark raised their target price on K-Bro Linen from C$47.00 to C$50.00 in a report on Friday, August 9th.

The firm has a market capitalization of $415.11 million and a PE ratio of 55.70. The company has a debt-to-equity ratio of 64.28, a quick ratio of 1.13 and a current ratio of 1.94. The firm has a fifty day moving average of C$39.15 and a 200 day moving average of C$39.08.

K-Bro Linen (TSE:KBL) last announced its earnings results on Wednesday, August 7th. The company reported C$0.34 EPS for the quarter. The company had revenue of C$63.89 million for the quarter, compared to analysts’ expectations of C$64.60 million. Research analysts forecast that K-Bro Linen Inc will post 1.69 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.20 dividend on an annualized basis and a yield of 3.24%. K-Bro Linen’s dividend payout ratio (DPR) is presently 180.45%.

K-Bro Linen Company Profile (TSE:KBL)

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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