Monro (NASDAQ:MNRO) Releases Quarterly Earnings Results

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

Monro Stock Down 5.2%

Shares of NASDAQ MNRO opened at $15.88 on Friday. The stock has a market capitalization of $475.59 million, a P/E ratio of 24.81, a PEG 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. The firm’s 50 day simple moving average is $14.21 and its two-hundred day simple moving average is $19.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19.

Monro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend is Tuesday, June 3rd. Monro’s dividend payout ratio is currently 175.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MNRO. Wedbush lowered their target price on shares of Monro from $27.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Stephens upgraded shares of Monro from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $21.00 to $18.00 in a research report on Friday, April 4th. Finally, Wells Fargo & Company upped their target price on shares of Monro from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday.

Institutional Investors Weigh In On Monro

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in Monro by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock worth $9,956,000 after purchasing an additional 68,862 shares during the period. Jones Financial Companies Lllp purchased a new stake in Monro during the first quarter valued at about $559,000. Jane Street Group LLC grew its stake in shares of Monro by 85.2% during 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 buying an additional 36,734 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Monro by 139.8% in the first quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock worth $404,000 after buying an additional 16,268 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Monro by 5.6% in the 1st quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company’s stock valued at $2,049,000 after acquiring an additional 7,464 shares during the last quarter.

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.