Monro (NASDAQ:MNRO) Hits New 12-Month Low After Earnings Miss

Monro, Inc. (NASDAQ:MNROGet Free Report) reached a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $20.52 and last traded at $20.28, with a volume of 1668 shares changing hands. The stock had previously closed at $22.01.

The auto parts company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a net margin of 2.24% and a return on equity of 4.77%.

Monro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.71%. The ex-dividend date was Tuesday, December 3rd. Monro’s dividend payout ratio (DPR) is 128.74%.

Analysts Set New Price Targets

MNRO has been the topic of a number of analyst reports. Stephens started coverage on Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Monro in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their price target on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday.

Read Our Latest Report on Monro

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC increased its stake in Monro by 64.5% during the second quarter. Squarepoint Ops LLC now owns 66,520 shares of the auto parts company’s stock valued at $1,587,000 after purchasing an additional 26,092 shares during the last quarter. Millennium Management LLC grew its position in shares of Monro by 3,587.8% during the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after buying an additional 1,108,292 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Monro by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock worth $279,000 after acquiring an additional 458 shares during the period. Quarry LP lifted its holdings in Monro by 361.0% in the second quarter. Quarry LP now owns 2,047 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Monro in the second quarter valued at approximately $406,000.

Monro Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.21. The company has a fifty day moving average price of $24.75 and a 200 day moving average price of $26.25. The company has a market capitalization of $587.02 million, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11.

Monro Company Profile

(Get Free Report)

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.

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