$279.88 Million in Sales Expected for Monro Muffler Brake, Inc. (MNRO) This Quarter
Wall Street brokerages expect that Monro Muffler Brake, Inc. (NASDAQ:MNRO) will post $279.88 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Monro Muffler Brake’s earnings. The highest sales estimate is $281.60 million and the lowest is $276.90 million. Monro Muffler Brake reported sales of $248.58 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The firm is expected to report its next earnings results on Thursday, October 19th.
On average, analysts expect that Monro Muffler Brake will report full-year sales of $279.88 million for the current year, with estimates ranging from $1.15 billion to $1.16 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.25 billion per share, with estimates ranging from $1.21 billion to $1.29 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Monro Muffler Brake.
Monro Muffler Brake (NASDAQ:MNRO) last posted its earnings results on Thursday, July 20th. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $278.50 million for the quarter, compared to the consensus estimate of $270.85 million. Monro Muffler Brake had a return on equity of 10.90% and a net margin of 5.84%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share.
A number of equities research analysts have recently issued reports on MNRO shares. BidaskClub raised shares of Monro Muffler Brake from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Stephens downgraded shares of Monro Muffler Brake from an “overweight” rating to an “equal weight” rating in a research report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $51.00 price objective (down previously from $54.00) on shares of Monro Muffler Brake in a research report on Saturday, July 22nd. TheStreet downgraded shares of Monro Muffler Brake from a “b-” rating to a “c+” rating in a research report on Tuesday, May 23rd. Finally, Oppenheimer Holdings, Inc. set a $70.00 price objective on shares of Monro Muffler Brake and gave the company a “buy” rating in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.33.
In related news, CEO Heel John W. Van sold 129,089 shares of Monro Muffler Brake stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $46.76, for a total transaction of $6,036,201.64. Following the transaction, the chief executive officer now owns 202,463 shares in the company, valued at approximately $9,467,169.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Craig L. Hoyle sold 2,000 shares of Monro Muffler Brake stock in a transaction on Monday, August 7th. The shares were sold at an average price of $48.02, for a total transaction of $96,040.00. Following the transaction, the vice president now owns 58,000 shares in the company, valued at approximately $2,785,160. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 6,893 shares of company stock worth $328,155 and have sold 244,064 shares worth $11,438,709. 6.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MNRO. Forward Management LLC lifted its stake in shares of Monro Muffler Brake by 9.5% during the 2nd quarter. Forward Management LLC now owns 2,662 shares of the auto parts company’s stock valued at $111,000 after buying an additional 231 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Monro Muffler Brake by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,012 shares of the auto parts company’s stock valued at $126,000 after buying an additional 452 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Monro Muffler Brake during the 1st quarter valued at $141,000. Capital Analysts LLC lifted its stake in shares of Monro Muffler Brake by 18.5% during the 2nd quarter. Capital Analysts LLC now owns 4,255 shares of the auto parts company’s stock valued at $178,000 after buying an additional 665 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Monro Muffler Brake by 0.9% during the 2nd quarter. Stephens Inc. AR now owns 4,899 shares of the auto parts company’s stock valued at $205,000 after buying an additional 45 shares in the last quarter.
Shares of Monro Muffler Brake (NASDAQ:MNRO) opened at 49.00 on Friday. Monro Muffler Brake has a 52-week low of $39.65 and a 52-week high of $62.07. The firm’s 50 day moving average price is $46.80 and its 200 day moving average price is $49.42. The stock has a market cap of $1.60 billion, a P/E ratio of 26.09 and a beta of 0.71.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were paid a dividend of $0.18 per share. This is a boost from Monro Muffler Brake’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. Monro Muffler Brake’s payout ratio is 38.30%.
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Monro Muffler Brake Company Profile
Monro, Inc, formerly Monro Muffler Brake, Inc, is engaged in the provision of automotive undercar repair and tire services in the United States. The Company provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment.
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