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

Monro, Inc. (NASDAQ:MNRO) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.28 per share by the auto parts company on Tuesday, December 17th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date 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 annually for the last 19 consecutive years. Monro has a dividend payout ratio of 103.7% meaning 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 Trading Down 0.3 %

MNRO stock opened at $28.12 on Monday. The business’s 50-day moving average is $28.06 and its 200 day moving average is $26.16. Monro has a 12-month low of $21.00 and a 12-month high of $33.98. The company has a current ratio of 0.53, a quick ratio of 0.21 and a debt-to-equity ratio of 0.47. The stock has a market cap of $842.19 million, a price-to-earnings ratio of 32.32, a PEG ratio of 2.25 and a beta of 1.11.

Monro (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The business had revenue of $301.39 million for the quarter, compared to analyst estimates of $300.06 million. Monro had a return on equity of 4.77% and a net margin of 2.24%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts anticipate that Monro will post 0.83 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Stephens assumed coverage on shares of Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price target on the stock.

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.