Monro, Inc. (NASDAQ:MNRO) Declares $0.28 Quarterly Dividend

Monro, Inc. (NASDAQ:MNRO) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders 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 dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 3rd.

Monro has increased its dividend by an average of 8.4% per year over the last three years and has raised its dividend every year for the last 19 years. Monro has a dividend 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. Equities research 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 Monro stock opened at $27.04 on Friday. The stock has a 50-day moving average price of $27.88 and a 200 day moving average price of $26.13. 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. 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 has a 1 year low of $21.00 and a 1 year high of $33.98.

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

Analyst Ratings Changes

Separately, Stephens began coverage on Monro in a research note on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price objective 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.