Monro (NASDAQ:MNRO) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Monro (NASDAQ:MNRO) released its quarterly earnings results on Wednesday. The auto parts company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.12), Zacks reports. Monro had a return on equity of 4.77% and a net margin of 2.24%.

Monro Stock Down 9.6 %

Shares of NASDAQ:MNRO opened at $19.90 on Wednesday. The business’s 50 day moving average is $24.88 and its 200 day moving average is $26.29. The stock has a market cap of $595.98 million, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. Monro has a 52-week low of $20.52 and a 52-week high of $33.98. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47.

Monro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Tuesday, December 3rd. Monro’s dividend payout ratio is presently 128.74%.

Analyst Ratings Changes

Several brokerages have issued reports on MNRO. Wells Fargo & Company dropped their target price on Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday. Wedbush restated an “outperform” rating and set a $31.00 price objective on shares of Monro in a report on Wednesday, December 18th. Finally, Stephens initiated coverage on Monro in a research report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price objective on the stock.

About Monro

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.