Q2 2023 EPS Estimates for Monro, Inc. Increased by Jefferies Financial Group (NASDAQ:MNRO)

Monro, Inc. (NASDAQ:MNROGet Rating) – Jefferies Financial Group lifted their Q2 2023 earnings per share (EPS) estimates for Monro in a research note issued to investors on Wednesday, July 27th. Jefferies Financial Group analyst B. Jordan now forecasts that the auto parts company will post earnings of $0.44 per share for the quarter, up from their previous estimate of $0.26. The consensus estimate for Monro’s current full-year earnings is $1.47 per share. Jefferies Financial Group also issued estimates for Monro’s Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.39 EPS and FY2023 earnings at $1.67 EPS.

Monro (NASDAQ:MNROGet Rating) last announced its quarterly earnings results on Thursday, May 19th. The auto parts company reported $0.20 earnings per share (EPS) 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 company had revenue of $328.00 million for the quarter, compared to the consensus estimate of $328.18 million. During the same quarter last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year.

A number of other research analysts also recently issued reports on MNRO. BMO Capital Markets reduced their price objective on Monro from $65.00 to $47.00 in a research note on Friday, May 20th. StockNews.com downgraded Monro from a “buy” rating to a “hold” rating in a research note on Monday, May 23rd.

Monro Trading Up 0.8 %

Shares of Monro stock opened at $50.15 on Monday. The stock has a fifty day simple moving average of $45.05 and a 200 day simple moving average of $45.99. Monro has a 12-month low of $37.49 and a 12-month high of $64.71. The company has a market capitalization of $1.66 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. The company has a current ratio of 0.76, a quick ratio of 0.25 and a debt-to-equity ratio of 0.68.

Institutional Trading of Monro

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Personal CFO Solutions LLC grew its stake in Monro by 4.6% in the 1st quarter. Personal CFO Solutions LLC now owns 4,894 shares of the auto parts company’s stock worth $217,000 after buying an additional 216 shares in the last quarter. D.B. Root & Company LLC grew its stake in Monro by 1.8% in the 4th quarter. D.B. Root & Company LLC now owns 14,348 shares of the auto parts company’s stock worth $836,000 after buying an additional 250 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Monro by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,834 shares of the auto parts company’s stock worth $214,000 after buying an additional 252 shares in the last quarter. Barclays PLC grew its stake in Monro by 1.0% in the 4th quarter. Barclays PLC now owns 41,242 shares of the auto parts company’s stock worth $2,404,000 after buying an additional 401 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Monro by 4.7% in the 1st quarter. Bank of Montreal Can now owns 9,728 shares of the auto parts company’s stock worth $451,000 after buying an additional 434 shares in the last quarter.

Monro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Monday, June 6th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, June 3rd. This is a positive change from Monro’s previous quarterly dividend of $0.26. Monro’s dividend payout ratio is 61.88%.

Monro Company Profile

(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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Earnings History and Estimates for Monro (NASDAQ:MNRO)

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