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

Monro, Inc. (NASDAQ:MNRO) announced a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Tuesday, February 25th will be given 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 yield of 5.86%.

Monro has raised its dividend payment by an average of 4.6% per year over the last three years. Monro has a dividend 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 Performance

NASDAQ:MNRO opened at $19.11 on Friday. The firm has a 50-day moving average of $23.05 and a two-hundred day moving average of $25.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. The stock has a market cap of $572.34 million, a P/E ratio of 29.86, a PEG ratio of 2.11 and a beta of 1.08. Monro has a 1-year low of $18.29 and a 1-year high of $33.98.

Monro (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, January 29th. The auto parts company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a return on equity of 3.76% and a net margin of 1.64%. On average, research analysts expect that Monro will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.