Monro, Inc. (NASDAQ:MNRO) Plans Quarterly Dividend of $0.28

Monro, Inc. (NASDAQ:MNRO) declared a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.28 per share by the auto parts company on Tuesday, March 11th. This represents a $1.12 annualized dividend and a dividend yield of 5.66%.

Monro has raised its dividend payment by an average of 4.6% annually over the last three years. Monro has a dividend payout ratio of 140.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of NASDAQ MNRO opened at $19.78 on Friday. The stock has a market cap of $592.41 million, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Monro has a fifty-two week low of $18.29 and a fifty-two week high of $33.98. 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 stock has a fifty day moving average of $22.89 and a 200-day moving average of $25.82.

Monro (NASDAQ:MNRO) last posted its earnings results on Wednesday, January 29th. The auto parts company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a return on equity of 3.76% and a net margin of 1.64%. Equities research analysts anticipate that Monro will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company reduced 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, January 27th. Wedbush restated an “outperform” rating and set a $31.00 target price on shares of Monro in a research report on Wednesday, December 18th.

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.