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

Monro, Inc. (NASDAQ:MNRO) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.28 per share by the auto parts company on Tuesday, March 11th. This represents a $1.12 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Tuesday, February 25th.

Monro has increased its dividend payment by an average of 4.6% per year over the last three years. Monro has a payout ratio of 140.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Monro to earn $0.79 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 141.8%.

Monro Stock Down 2.6 %

MNRO stock opened at $18.71 on Friday. Monro has a fifty-two week low of $18.29 and a fifty-two week high of $33.98. The stock has a fifty day moving average of $21.97 and a 200-day moving average of $25.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.54. The company has a market capitalization of $560.20 million, a price-to-earnings ratio of 29.23, a PEG ratio of 2.05 and a beta of 1.08.

Monro (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, January 29th. 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 1.64% and a return on equity of 3.76%. As a group, equities research analysts predict that Monro will post 0.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wedbush reiterated an “outperform” rating and set a $31.00 price target on shares of Monro in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th.

About Monro

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.