Monro, Inc. (NASDAQ:MNRO - Get Free Report) announced a quarterly dividend on Tuesday, May 20th, Wall Street Journal reports. Shareholders of record on Tuesday, June 3rd will be paid a dividend of 0.28 per share by the auto parts company on Tuesday, June 17th. This represents a $1.12 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date is Tuesday, June 3rd.
Monro has increased its dividend payment by an average of 4.6% annually over the last three years. Monro has a dividend payout ratio of 131.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Monro to earn $0.79 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 141.8%.
Monro Stock Down 4.1%
MNRO traded down $0.65 during midday trading on Friday, reaching $15.23. 1,333,237 shares of the company were exchanged, compared to its average volume of 711,689. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.54. The company's fifty day moving average price is $14.19 and its 200 day moving average price is $19.39. The company has a market cap of $456.43 million, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 2.05 and a beta of 0.95. Monro has a one year low of $12.20 and a one year high of $31.49.
Monro (NASDAQ:MNRO - Get Free Report) last released its earnings results on Wednesday, May 28th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). The business had revenue of $294.99 million during the quarter, compared to the consensus estimate of $288.60 million. Monro had a net margin of 1.64% and a return on equity of 3.76%. The business's revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, analysts expect that Monro will post 0.63 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on MNRO shares. Wedbush reduced their target price on Monro from $27.00 to $19.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Wells Fargo & Company upped their target price on Monro from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Thursday. Stephens raised Monro from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $21.00 to $18.00 in a report on Friday, April 4th. Finally, Wall Street Zen lowered Monro from a "hold" rating to a "sell" rating in a report on Saturday.
Check Out Our Latest Stock Report on Monro
Hedge Funds Weigh In On Monro
Several institutional investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in Monro by 85.2% in the first quarter. Jane Street Group LLC now owns 79,839 shares of the auto parts company's stock valued at $1,155,000 after purchasing an additional 36,734 shares during the last quarter. Empowered Funds LLC lifted its stake in Monro by 5.6% in the first quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company's stock valued at $2,049,000 after purchasing an additional 7,464 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Monro by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company's stock valued at $9,956,000 after purchasing an additional 68,862 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Monro in the first quarter valued at approximately $559,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Monro by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company's stock valued at $257,000 after purchasing an additional 780 shares during the last quarter.
About Monro
(
Get Free Report)
Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.
Featured Articles
Before you consider Monro, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monro wasn't on the list.
While Monro currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
