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

Monro, Inc. (NASDAQ:MNRO - Get Free Report) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Investors 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 yield of 4.14%. 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. 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 Price Performance

MNRO traded up $0.31 during midday trading on Friday, hitting $27.04. The stock had a trading volume of 666,290 shares, compared to its average volume of 519,585. Monro has a 1 year low of $21.00 and a 1 year high of $33.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. The business has a fifty day moving average of $27.86 and a 200 day moving average of $26.13. The company has a market cap of $809.85 million, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 2.25 and a beta of 1.11.

Monro (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings data 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). Monro had a return on equity of 4.77% and a net margin of 2.24%. The business had revenue of $301.39 million during the quarter, compared to the consensus estimate of $300.06 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company's revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts forecast that Monro will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Stephens began coverage on Monro in a research note on Tuesday, October 15th. They set an "equal weight" rating and a $31.00 price objective 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.

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