Monro (NASDAQ:MNRO) Reaches New 1-Year Low After Earnings Miss

Monro, Inc. (NASDAQ:MNRO) shares reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $20.52 and last traded at $20.28, with a volume of 1668 shares changing hands. The stock had previously closed at $22.01.

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 return on equity of 4.77% and a net margin of 2.24%.

Monro Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Monro by 20.5% in the third quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock worth $46,374,000 after acquiring an additional 273,265 shares during the last quarter. State Street Corp grew its stake in Monro by 0.8% in the third quarter. State Street Corp now owns 1,344,978 shares of the auto parts company’s stock valued at $38,816,000 after purchasing an additional 11,265 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Monro in the 4th quarter worth about $28,899,000. Millennium Management LLC raised its stake in shares of Monro by 3,587.8% during the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock worth $27,181,000 after purchasing an additional 1,108,292 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Monro by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock worth $23,763,000 after purchasing an additional 20,420 shares in the last quarter.

Monro Trading Down 3.5 %

The firm has a market capitalization of $587.02 million, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. The company has a fifty day moving average price of $24.75 and a 200-day moving average price of $26.25. The company has a current ratio of 0.53, a quick ratio of 0.21 and a debt-to-equity ratio of 0.47.

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.