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

Shares of Monro, Inc. (NASDAQ:MNRO) traded down 5.1% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $19.21 and last traded at $19.27. 317,268 shares changed hands during mid-day trading, a decline of 53% from the average session 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 return on equity of 4.77% and a net margin of 2.24%.

Monro Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Monro in a research report on Wednesday, December 18th. Stephens assumed coverage on shares of Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Wells Fargo & Company decreased their price target on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday.

Hedge Funds Weigh In On Monro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blueshift Asset Management LLC purchased a new position in Monro in the 3rd quarter valued at approximately $830,000. Intech Investment Management LLC acquired a new stake in shares of Monro in the 3rd quarter valued at $1,205,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Monro in the 3rd quarter valued at $515,000. Landscape Capital Management L.L.C. raised its holdings in shares of Monro by 434.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock valued at $3,017,000 after purchasing an additional 84,996 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Monro by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock valued at $23,763,000 after purchasing an additional 20,420 shares in the last quarter.

Monro Price Performance

The stock’s fifty day moving average price is $24.75 and its two-hundred day moving average price is $26.25. 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 current ratio of 0.53, a quick ratio of 0.21 and a debt-to-equity ratio of 0.47.

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.