Q1 2023 EPS Estimates for Monro, Inc. (NASDAQ:MNRO) Raised by Jefferies Financial Group

Monro, Inc. (NASDAQ:MNROGet Rating) – Stock analysts at Jefferies Financial Group lifted their Q1 2023 earnings per share estimates for shares of Monro in a research note issued on Tuesday, June 14th. Jefferies Financial Group analyst B. Jordan now forecasts that the auto parts company will post earnings of $0.25 per share for the quarter, up from their previous estimate of $0.16. The consensus estimate for Monro’s current full-year earnings is $1.44 per share. Jefferies Financial Group also issued estimates for Monro’s FY2023 earnings at $1.25 EPS.

Monro (NASDAQ:MNROGet Rating) last posted its quarterly earnings data on Thursday, May 19th. The auto parts company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.26). Monro had a return on equity of 8.15% and a net margin of 4.53%. The business had revenue of $328.00 million during the quarter, compared to the consensus estimate of $328.18 million. During the same period last year, the business posted $0.38 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis.

A number of other analysts have also commented on the company. BMO Capital Markets decreased their target price on Monro from $65.00 to $47.00 in a research report on Friday, May 20th. StockNews.com lowered Monro from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd.

MNRO stock opened at $40.03 on Friday. The stock has a 50-day moving average price of $45.19 and a 200-day moving average price of $48.96. Monro has a 1-year low of $37.49 and a 1-year high of $65.30. The company has a current ratio of 0.76, a quick ratio of 0.25 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1.34 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Monday, June 6th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, June 3rd. This is an increase from Monro’s previous quarterly dividend of $0.26. Monro’s payout ratio is presently 61.88%.

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in Monro by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,075 shares of the auto parts company’s stock valued at $19,525,000 after purchasing an additional 1,410 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in Monro in the fourth quarter valued at approximately $590,000. Virginia Retirement Systems ET AL raised its holdings in Monro by 49.1% during the 4th quarter. Virginia Retirement Systems ET AL now owns 15,800 shares of the auto parts company’s stock valued at $921,000 after acquiring an additional 5,200 shares during the period. Dimensional Fund Advisors LP raised its holdings in Monro by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 975,918 shares of the auto parts company’s stock valued at $56,867,000 after acquiring an additional 45,634 shares during the period. Finally, Millennium Management LLC raised its holdings in Monro by 85.9% during the 3rd quarter. Millennium Management LLC now owns 84,488 shares of the auto parts company’s stock valued at $4,859,000 after acquiring an additional 39,031 shares during the period.

About Monro (Get Rating)

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services; routine maintenance services on passenger cars, light trucks, and vans; products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.

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