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

Monro, Inc. (NASDAQ:MNRO) announced a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Tuesday, February 25th will be given 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 yield of 5.66%.

Monro has increased its dividend by an average of 4.6% per year over the last three years. Monro has a dividend payout ratio of 140.0% indicating that 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 Trading Up 3.5 %

NASDAQ MNRO opened at $19.78 on Friday. The stock has a market capitalization of $592.41 million, a P/E ratio of 30.91, a P/E/G ratio of 2.11 and a beta of 1.08. 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 has a one year low of $18.29 and a one year high of $33.98. The business has a 50 day simple moving average of $22.89 and a 200 day simple moving average of $25.82.

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

Analyst Ratings Changes

MNRO has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Wedbush reiterated an “outperform” rating and set a $31.00 price target on shares of Monro in a 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.