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

Monro, Inc. (NASDAQ:MNRO) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Shareholders 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 of this dividend is Tuesday, December 3rd.

Monro has increased its dividend payment by an average of 8.4% annually over the last three years and has increased its dividend every year for the last 19 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. Equities 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 Performance

MNRO opened at $27.04 on Friday. The firm has a market capitalization of $809.85 million, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 2.14 and a beta of 1.11. The stock’s 50 day moving average price is $27.88 and its two-hundred day moving average price is $26.13. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. Monro has a 12-month low of $21.00 and a 12-month high of $33.98.

Monro (NASDAQ:MNRO) last released its 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 business earned $0.41 EPS. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities analysts forecast that Monro will post 0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.