Monro (NASDAQ:MNRO) Sets New 12-Month Low Following Weak Earnings

Monro, Inc. (NASDAQ:MNRO) shares reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $20.52 and last traded at $20.28, with a volume of 1668 shares. The stock had previously closed at $22.01.

The auto parts company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.12). Monro had a return on equity of 4.77% and a net margin of 2.24%.

Monro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 5.63%. Monro’s dividend payout ratio (DPR) is 128.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stephens assumed coverage on Monro in a research report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 target price for the company. Wells Fargo & Company cut 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. Finally, Wedbush restated an “outperform” rating and issued a $31.00 target price on shares of Monro in a research report on Wednesday, December 18th.

Institutional Trading of Monro

A number of hedge funds have recently modified their holdings of the business. Quarry LP increased its stake in shares of Monro by 361.0% in the second quarter. Quarry LP now owns 2,047 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. XTX Topco Ltd acquired a new position in Monro during the third quarter worth $213,000. Bleakley Financial Group LLC increased its position in Monro by 17.9% during the fourth quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock worth $246,000 after buying an additional 1,506 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Monro by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock worth $279,000 after buying an additional 458 shares during the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in Monro during the third quarter worth $287,000.

Monro Price Performance

The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The company’s 50-day simple moving average is $24.88 and its 200 day simple moving average is $26.29. The stock has a market capitalization of $596.24 million, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.73 and a beta of 1.11.

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.