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

Monro, Inc. (NASDAQ:MNRO) was down 5.1% on Thursday following a dissappointing earnings announcement. The company traded as low as $19.21 and last traded at $19.27. Approximately 317,268 shares were traded during mid-day 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 the consensus estimate of $0.31 by ($0.12). Monro had a net margin of 2.24% and a return on equity of 4.77%.

Monro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend was Tuesday, December 3rd. Monro’s payout ratio is currently 128.74%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MNRO shares. Wells Fargo & Company dropped their price objective on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday. Stephens initiated 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. Finally, Wedbush restated an “outperform” rating and issued a $31.00 price objective on shares of Monro in a research report on Wednesday, December 18th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP grew its position 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 valued at $49,000 after purchasing an additional 1,603 shares during the period. XTX Topco Ltd acquired a new stake in Monro in the 3rd quarter worth about $213,000. Bleakley Financial Group LLC lifted its holdings in shares of Monro by 17.9% during the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock worth $246,000 after acquiring an additional 1,506 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Monro by 4.1% in the second 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 during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new stake in Monro in the third quarter valued at approximately $287,000.

Monro Stock Down 5.2 %

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 market cap of $576.39 million, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. The firm’s 50-day moving average is $24.75 and its 200 day moving average is $26.25.

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.