Monro, Inc. (MNRO) to Issue Quarterly Dividend of $0.28 on December 17th

Monro, Inc. (NASDAQ:MNRO) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Shareholders of record on Tuesday, December 3rd will be paid a dividend of 0.28 per share by the auto parts company on Tuesday, December 17th. This represents a $1.12 annualized dividend and a yield of 4.14%. The ex-dividend date is Tuesday, December 3rd.

Monro has increased its dividend by an average of 8.4% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Monro has a payout ratio of 103.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Monro to earn $1.04 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 107.7%.

Monro Stock Up 1.2 %

Shares of NASDAQ MNRO opened at $27.04 on Friday. Monro has a 52 week low of $21.00 and a 52 week high of $33.98. The business has a 50-day simple moving average of $27.88 and a two-hundred day simple moving average of $26.13. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The company has a market cap of $809.85 million, a P/E ratio of 31.08, a P/E/G ratio of 2.14 and a beta of 1.11.

Monro (NASDAQ:MNRO) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). The company had revenue of $301.39 million during the quarter, compared to the consensus estimate of $300.06 million. Monro had a return on equity of 4.77% and a net margin of 2.24%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. Research analysts anticipate that Monro will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Stephens started coverage on shares of Monro in a research note on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price target for the company.

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.