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

Monro, Inc. (NASDAQ:MNRO) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.28 per share by the auto parts company on Tuesday, December 17th. This represents a $1.12 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Tuesday, December 3rd.

Monro has raised its dividend by an average of 8.4% annually over the last three years and has raised its dividend annually for the last 19 consecutive years. Monro has a payout ratio of 103.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Monro to earn $1.04 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 107.7%.

Monro Trading Up 1.2 %

NASDAQ:MNRO traded up $0.31 during trading hours on Friday, hitting $27.04. The company had a trading volume of 666,290 shares, compared to its average volume of 519,585. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.21. The stock has a 50-day moving average price of $27.86 and a 200 day moving average price of $26.13. The company has a market capitalization of $809.85 million, a PE ratio of 30.72, a price-to-earnings-growth ratio of 2.25 and a beta of 1.11. Monro has a 52 week low of $21.00 and a 52 week high of $33.98.

Monro (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The company had revenue of $301.39 million during the quarter, compared to the consensus estimate of $300.06 million. Monro had a return on equity of 4.77% and a net margin of 2.24%. Monro’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities research analysts predict that Monro will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Stephens assumed coverage on Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price target 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.