Monro Muffler Brake, Inc. Declares Quarterly Dividend of $0.28 (NASDAQ:MNRO)

Key Points

• Monro Muffler Brake declared a quarterly dividend of $0.28 per share, payable September 8 to shareholders of record on August 25. The dividend implies an annualized yield of approximately 9.9%.
• The dividend may be financially strained: the company’s payout ratio is 131.8%, and analysts expect a potential future payout ratio of 175% based on projected earnings of $0.64 per share.
• Monro reported a quarterly loss of $0.09 per share, missing estimates, while revenue fell 4.6% year over year. Analysts maintained a consensus “Hold” rating, with a consensus price target of $24.33.

Monro Muffler Brake, Inc. (NASDAQ:MNRO - Get Free Report) declared a quarterly dividend on Thursday, August 13th. Shareholders of record on Tuesday, August 25th will be paid a dividend of 0.28 per share by the auto parts company on Tuesday, September 8th. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date is Tuesday, August 25th.

Monro Muffler Brake has raised its dividend payment by an average of 0.0%per year over the last three years. Monro Muffler Brake has a 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. Analysts expect Monro Muffler Brake to earn $0.64 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 175.0%.

Monro Muffler Brake Stock Performance

MNRO opened at $11.27 on Friday. The company has a 50 day simple moving average of $15.44 and a two-hundred day simple moving average of $17.04. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.49 and a quick ratio of 0.16. The firm has a market cap of $352.30 million, a P/E ratio of 51.23, a PEG ratio of 9.57 and a beta of 1.05. Monro Muffler Brake has a 1-year low of $11.25 and a 1-year high of $23.91.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). Monro Muffler Brake had a net margin of 0.71% and a return on equity of 0.80%. The firm had revenue of $287.13 million for the quarter, compared to the consensus estimate of $286.30 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm's revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts forecast that Monro Muffler Brake will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on MNRO. Wells Fargo & Company decreased their price target on Monro Muffler Brake from $20.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, June 11th. Stephens dropped their price objective on Monro Muffler Brake from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. Wall Street Zen cut Monro Muffler Brake from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Weiss Ratings raised Monro Muffler Brake from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Finally, Zacks Research raised Monro Muffler Brake from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $24.33.

About Monro Muffler Brake

Monro Muffler Brake NASDAQ: MNRO is a leading provider of undercar repair and maintenance services for light vehicles in the United States. The company's core offerings include brake systems, exhaust systems, steering and suspension repairs, tire sales and service, oil and lube changes, wheel alignment, multi-point inspections, and state vehicle inspections. Monro serves both retail customers and fleet accounts, focusing on fast, reliable service and preventive maintenance to help extend vehicle life and safety.

Headquartered in Rochester, New York, Monro was originally founded in 1957 and has grown through a combination of organic expansion and strategic acquisitions.

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