Monro (NASDAQ:MNRO) Releases Earnings Results, Misses Estimates By $0.18 EPS

Monro (NASDAQ:MNRO - Get Free Report) posted its quarterly earnings data on Wednesday. The auto parts company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.18), Zacks reports. The business had revenue of $294.99 million during the quarter, compared to analysts' expectations of $288.60 million. Monro had a net margin of 1.64% and a return on equity of 3.76%. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share.

Monro Trading Down 4.1%

NASDAQ MNRO traded down $0.65 on Friday, reaching $15.23. 1,333,237 shares of the company were exchanged, compared to its average volume of 712,261. The business's fifty day moving average price is $14.19 and its 200 day moving average price is $19.46. The stock has a market capitalization of $456.12 million, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 2.05 and a beta of 0.95. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. Monro has a fifty-two week low of $12.20 and a fifty-two week high of $31.49.

Monro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date of this dividend is Tuesday, June 3rd. Monro's dividend payout ratio (DPR) is currently 175.00%.

Hedge Funds Weigh In On Monro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its stake in Monro by 85.2% during the first quarter. Jane Street Group LLC now owns 79,839 shares of the auto parts company's stock worth $1,155,000 after buying an additional 36,734 shares during the last quarter. Empowered Funds LLC boosted its stake in Monro by 5.6% during the first quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company's stock worth $2,049,000 after buying an additional 7,464 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Monro by 11.1% in the 1st 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 shares of Monro during the 1st quarter worth $559,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Monro by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company's stock worth $257,000 after purchasing an additional 780 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen cut Monro from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company boosted their price target on Monro from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wedbush dropped their price target on Monro from $27.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Finally, Stephens upgraded Monro from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $21.00 to $18.00 in a research report on Friday, April 4th.

Monro Company Profile

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.