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

Monro, Inc. (NASDAQ:MNRO) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be paid 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 raised its dividend by an average of 8.4% annually over the last three years and has increased its dividend annually for the last 19 consecutive years. Monro has a payout ratio of 103.7% indicating that 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 Stock Down 0.3 %

Shares of Monro stock opened at $28.12 on Monday. The company has a market capitalization of $842.19 million, a P/E ratio of 32.32, a P/E/G ratio of 2.25 and a beta of 1.11. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $28.06 and a 200 day moving average of $26.16. Monro has a 52-week low of $21.00 and a 52-week high of $33.98.

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

Analyst Ratings Changes

Separately, Stephens assumed coverage on Monro in a research note on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price objective for the company.

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.