Monro (NASDAQ:MNRO) Reaches New 52-Week Low After Earnings Miss

Monro, Inc. (NASDAQ:MNRO - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $20.52 and last traded at $20.28, with a volume of 1668 shares traded. 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 return on equity of 3.75% and a net margin of 1.64%.

Monro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Tuesday, December 3rd. Monro's dividend payout ratio (DPR) is 175.00%.

Analysts Set New Price Targets

Several research firms have issued reports on MNRO. Stephens assumed coverage on shares of Monro in a research note on Tuesday, October 15th. They issued an "equal weight" rating and a $31.00 price objective for the company. Wedbush reissued 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 reduced their price objective on Monro from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th.

Hedge Funds Weigh In On Monro

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP raised its stake in Monro by 361.0% during the 2nd quarter. Quarry LP now owns 2,047 shares of the auto parts company's stock valued at $49,000 after acquiring an additional 1,603 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Monro during the third quarter worth $213,000. Bleakley Financial Group LLC increased its stake in Monro by 17.9% in the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company's stock valued at $246,000 after buying an additional 1,506 shares during the period. Arete Wealth Advisors LLC purchased a new position in Monro during the 3rd quarter worth $287,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Monro by 4.1% in the 2nd 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.

Monro Price Performance

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 company's 50 day moving average price is $24.46 and its 200 day moving average price is $26.19. The company has a market cap of $588.20 million, a price-to-earnings ratio of 30.69, a PEG ratio of 1.62 and a beta of 1.11.

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.