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

Monro, Inc. (NASDAQ:MNRO) dropped 5.1% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $19.21 and last traded at $19.27. Approximately 317,268 shares changed hands 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.12). Monro had a return on equity of 3.75% and a net margin of 1.64%.

Monro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a $0.28 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.70%. Monro’s dividend payout ratio (DPR) is currently 175.00%.

Wall Street Analysts Forecast Growth

MNRO has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Wedbush reiterated an “outperform” rating and set a $31.00 target price on shares of Monro in a research report on Wednesday, December 18th. Finally, Stephens started coverage on shares of Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP raised its holdings in Monro by 361.0% during the second quarter. Quarry LP now owns 2,047 shares of the auto parts company’s stock worth $49,000 after buying 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 raised its holdings 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 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 worth $279,000 after acquiring an additional 458 shares in the last quarter. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Monro in the 3rd quarter worth $287,000.

Monro Stock Performance

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 stock has a market cap of $588.22 million, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.11. The company’s 50 day moving average price is $24.60 and its 200-day moving average price is $26.20.

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.