Monro (NASDAQ:MNRO) Shares Gap Down on Disappointing Earnings

Monro, Inc. (NASDAQ:MNRO)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $25.96, but opened at $23.37. Monro shares last traded at $24.78, with a volume of 591,664 shares traded.

The auto parts company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). The business had revenue of $310.08 million during the quarter, compared to analysts’ expectations of $320.16 million. Monro had a return on equity of 6.25% and a net margin of 2.94%. The firm’s revenue was down .2% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share.

Monro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Tuesday, June 4th. Monro’s dividend payout ratio (DPR) is presently 94.92%.

Hedge Funds Weigh In On Monro

A number of hedge funds have recently bought and sold shares of MNRO. Tidal Investments LLC acquired a new position in Monro in the 1st quarter valued at $203,000. Ancora Advisors LLC lifted its stake in shares of Monro by 92.8% in the first quarter. Ancora Advisors LLC now owns 101,430 shares of the auto parts company’s stock worth $3,199,000 after buying an additional 48,820 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Monro during the first quarter worth about $4,348,000. Gabelli Funds LLC grew its stake in Monro by 2.4% during the 1st quarter. Gabelli Funds LLC now owns 85,000 shares of the auto parts company’s stock valued at $2,681,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Monro by 1.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 526,185 shares of the auto parts company’s stock worth $16,596,000 after purchasing an additional 8,550 shares in the last quarter.

Monro Trading Up 2.7 %

The company has a current ratio of 0.56, a quick ratio of 0.23 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average price of $28.70 and a two-hundred day moving average price of $29.81. The firm has a market capitalization of $702.95 million, a price-to-earnings ratio of 19.92, a PEG ratio of 0.91 and a beta of 1.14.

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.