Monro Inc (NASDAQ:MNRO) to Post Q2 2020 Earnings of $0.68 Per Share, Jefferies Financial Group Forecasts

Monro Inc (NASDAQ:MNRO) – Equities research analysts at Jefferies Financial Group decreased their Q2 2020 earnings estimates for Monro in a research note issued on Tuesday, May 21st, according to Zacks Investment Research. Jefferies Financial Group analyst B. Jordan now forecasts that the auto parts company will earn $0.68 per share for the quarter, down from their previous forecast of $0.71. Jefferies Financial Group also issued estimates for Monro’s Q4 2020 earnings at $0.63 EPS, Q1 2021 earnings at $0.79 EPS, Q2 2021 earnings at $0.74 EPS, Q3 2021 earnings at $0.72 EPS and Q4 2021 earnings at $0.73 EPS.

Monro (NASDAQ:MNRO) last announced its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.51 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.51. The business had revenue of $287.20 million during the quarter, compared to analyst estimates of $292.07 million. Monro had a net margin of 6.64% and a return on equity of 12.10%. Monro’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS.

A number of other brokerages have also commented on MNRO. BidaskClub lowered shares of Monro from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Guggenheim lowered shares of Monro from a “buy” rating to a “neutral” rating and set a $82.89 price target for the company. in a research note on Thursday, April 4th. They noted that the move was a valuation call. CL King reaffirmed a “hold” rating on shares of Monro in a report on Wednesday, May 22nd. Zacks Investment Research downgraded shares of Monro from a “buy” rating to a “hold” rating in a report on Friday, May 24th. Finally, SunTrust Banks lifted their price objective on shares of Monro to $85.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $85.96.

MNRO stock traded up $1.68 during midday trading on Thursday, reaching $86.08. 241,692 shares of the company’s stock traded hands, compared to its average volume of 327,358. The firm has a market capitalization of $2.83 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 2.45 and a beta of 0.76. The company has a current ratio of 1.10, a quick ratio of 0.32 and a debt-to-equity ratio of 0.54. Monro has a 52 week low of $57.40 and a 52 week high of $89.72.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.02%. This is an increase from Monro’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, May 31st. Monro’s payout ratio is currently 36.97%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Monro by 2.1% during the 4th quarter. BlackRock Inc. now owns 4,709,292 shares of the auto parts company’s stock worth $323,765,000 after acquiring an additional 96,891 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Monro by 1.6% in the 1st quarter. Wasatch Advisors Inc. now owns 3,110,173 shares of the auto parts company’s stock worth $269,092,000 after buying an additional 49,109 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Monro by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,999,624 shares of the auto parts company’s stock worth $173,007,000 after buying an additional 6,862 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Monro by 20.2% in the 1st quarter. TimesSquare Capital Management LLC now owns 704,149 shares of the auto parts company’s stock worth $60,923,000 after buying an additional 118,300 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Monro by 6.0% in the 1st quarter. FMR LLC now owns 575,137 shares of the auto parts company’s stock worth $49,762,000 after buying an additional 32,522 shares during the last quarter.

About Monro

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.

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