Monro Muffler Brake, Inc. (MNRO) to Post FY2018 Earnings of $2.19 Per Share, Jefferies Group Forecasts
Monro Muffler Brake, Inc. (NASDAQ:MNRO) – Jefferies Group cut their FY2018 earnings per share estimates for Monro Muffler Brake in a report issued on Thursday. Jefferies Group analyst B. Jordan now forecasts that the auto parts company will post earnings of $2.19 per share for the year, down from their prior forecast of $2.20. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Monro Muffler Brake’s Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.56 EPS and FY2019 earnings at $2.35 EPS.
Other equities analysts have also recently issued research reports about the company. TheStreet upgraded Monro Muffler Brake from a “c+” rating to a “b-” rating in a research note on Monday, October 2nd. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Monro Muffler Brake in a research note on Wednesday, June 28th. Stephens cut Monro Muffler Brake from an “overweight” rating to an “equal weight” rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded Monro Muffler Brake from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $61.00 price objective on shares of Monro Muffler Brake in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.33.
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Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings data on Thursday, July 20th. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $278.50 million for the quarter, compared to analysts’ expectations of $270.85 million. Monro Muffler Brake had a net margin of 5.84% and a return on equity of 10.90%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share.
A number of hedge funds have recently bought and sold shares of MNRO. Forward Management LLC lifted its stake in Monro Muffler Brake by 9.5% during the second quarter. Forward Management LLC now owns 2,662 shares of the auto parts company’s stock worth $111,000 after purchasing an additional 231 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Monro Muffler Brake by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,012 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 452 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Monro Muffler Brake during the first quarter worth approximately $141,000. Capital Analysts LLC lifted its stake in Monro Muffler Brake by 18.5% during the second quarter. Capital Analysts LLC now owns 4,255 shares of the auto parts company’s stock worth $178,000 after purchasing an additional 665 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in Monro Muffler Brake by 0.9% during the second quarter. Stephens Inc. AR now owns 4,899 shares of the auto parts company’s stock worth $205,000 after purchasing an additional 45 shares during the last quarter.
In related news, VP Craig L. Hoyle sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $48.02, for a total transaction of $96,040.00. Following the completion of the sale, the vice president now owns 58,000 shares in the company, valued at $2,785,160. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Heel John W. Van sold 129,089 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $46.76, for a total value of $6,036,201.64. Following the sale, the chief executive officer now owns 202,463 shares of the company’s stock, valued at approximately $9,467,169.88. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 6,893 shares of company stock valued at $328,155 and have sold 244,064 shares valued at $11,438,709. 6.20% of the stock is owned by insiders.
About Monro Muffler Brake
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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