Monro (NASDAQ:MNRO) Trading Down 5.1% Following Weak Earnings

Monro, Inc. (NASDAQ:MNRO)’s stock price dropped 5.1% on Thursday following a dissappointing earnings announcement. The stock traded as low as $19.21 and last traded at $19.27. Approximately 317,268 shares were traded during trading, a decline of 53% from the average daily volume of 674,169 shares. The stock had previously closed at $20.31.

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

Monro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.71%. The ex-dividend date was Tuesday, December 3rd. Monro’s payout ratio is 128.74%.

Analyst Ratings Changes

MNRO has been the topic of several recent research reports. Stephens initiated coverage on shares of Monro in a report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Monro in a report on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Quarry LP raised its holdings in Monro by 361.0% in the 2nd quarter. Quarry LP now owns 2,047 shares of the auto parts company’s stock valued at $49,000 after acquiring an additional 1,603 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Monro in the 3rd quarter valued at approximately $213,000. Bleakley Financial Group LLC grew its stake in shares of Monro by 17.9% in the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock valued at $246,000 after buying an additional 1,506 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Monro in the 3rd quarter valued at approximately $287,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Monro by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock valued at $279,000 after buying an additional 458 shares during the period.

Monro Stock Performance

The firm’s 50 day moving average price is $24.75 and its two-hundred day moving average price is $26.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. The firm has a market cap of $587.02 million, a PE ratio of 22.53, a PEG 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.