Equities Analysts Offer Predictions for Monro, Inc.’s Q3 2023 Earnings (NASDAQ:MNRO)

Monro, Inc. (NASDAQ:MNROGet Rating) – Equities researchers at Oppenheimer issued their Q3 2023 EPS estimates for Monro in a report issued on Friday, May 20th. Oppenheimer analyst B. Nagel anticipates that the auto parts company will post earnings per share of $0.36 for the quarter.

Monro (NASDAQ:MNROGet Rating) last announced its quarterly earnings results on Thursday, May 19th. The auto parts company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.26). The company had revenue of $328.00 million during the quarter, compared to analysts’ expectations of $328.18 million. Monro had a return on equity of 8.15% and a net margin of 4.53%. Monro’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share.

Other equities research analysts also recently issued reports about the company. TheStreet downgraded Monro from a “b-” rating to a “c” rating in a report on Monday, January 31st. StockNews.com upgraded Monro from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. BMO Capital Markets decreased their price target on Monro from $65.00 to $47.00 in a research note on Friday. Finally, Zacks Investment Research cut Monro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th.

NASDAQ MNRO opened at $38.80 on Monday. The company has a quick ratio of 0.26, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average is $44.97 and its 200 day moving average is $50.94. Monro has a twelve month low of $37.49 and a twelve month high of $65.30. The firm has a market capitalization of $1.30 billion, a PE ratio of 21.44, a P/E/G ratio of 1.11 and a beta of 1.03.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Monday, June 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, June 3rd. This is a positive change from Monro’s previous quarterly dividend of $0.26. Monro’s payout ratio is currently 57.46%.

Institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC boosted its stake in Monro by 177.8% during the first quarter. Gabelli Funds LLC now owns 50,000 shares of the auto parts company’s stock valued at $2,217,000 after buying an additional 32,000 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Monro by 61.6% during the first quarter. Gamco Investors INC. ET AL now owns 222,750 shares of the auto parts company’s stock valued at $9,877,000 after purchasing an additional 84,900 shares during the period. Penn Capital Management Company LLC purchased a new stake in Monro during the first quarter valued at approximately $1,907,000. Point72 Hong Kong Ltd purchased a new stake in Monro during the first quarter valued at approximately $70,000. Finally, Quantbot Technologies LP purchased a new stake in Monro during the first quarter valued at approximately $780,000.

About Monro (Get Rating)

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services; routine maintenance services on passenger cars, light trucks, and vans; products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.

Further Reading

Earnings History and Estimates for Monro (NASDAQ:MNRO)

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