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

Monro, Inc. (NASDAQ:MNRO) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Investors of record on Tuesday, December 3rd will be paid 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 yield of 4.14%. The ex-dividend date is Tuesday, December 3rd.

Monro has increased its dividend by an average of 8.4% per year 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 %

Shares of MNRO stock opened at $27.04 on Friday. The stock has a market capitalization of $809.85 million, a PE ratio of 31.08, a P/E/G ratio of 2.14 and a beta of 1.11. Monro has a 1-year low of $21.00 and a 1-year high of $33.98. The business has a 50-day moving average of $27.88 and a 200 day moving average of $26.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.21.

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

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.