Monro, Inc. (MNRO) to Issue Quarterly Dividend of $0.28 on March 11th

Monro, Inc. (NASDAQ:MNRO) declared a quarterly dividend on Thursday, February 13th, RTT News reports. Investors of record on Tuesday, February 25th will be paid a dividend of 0.28 per share by the auto parts company on Tuesday, March 11th. This represents a $1.12 annualized dividend and a yield of 5.99%. The ex-dividend date is Tuesday, February 25th.

Monro has raised its dividend payment by an average of 4.6% per year over the last three years. Monro has a dividend payout ratio of 140.0% 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 analysts expect Monro to earn $0.79 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 141.8%.

Monro Trading Down 2.6 %

Shares of MNRO stock opened at $18.71 on Friday. The firm has a 50 day moving average price of $21.97 and a two-hundred day moving average price of $25.46. The company has a market capitalization of $560.20 million, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. Monro has a 12-month low of $18.29 and a 12-month high of $33.98. The company has a quick ratio of 0.19, a current ratio of 0.54 and a debt-to-equity ratio of 0.45.

Monro (NASDAQ:MNRO) last posted its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.12). Monro had a return on equity of 3.76% and a net margin of 1.64%. As a group, analysts predict that Monro will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MNRO has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $31.00 target price on shares of Monro in a report on Wednesday, December 18th.

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.