Northcoast Research Comments on Monro Muffler Brake, Inc.’s Q2 2018 Earnings (MNRO)
Monro Muffler Brake, Inc. (NASDAQ:MNRO) – Equities research analysts at Northcoast Research cut their Q2 2018 earnings per share estimates for shares of Monro Muffler Brake in a report released on Friday. Northcoast Research analyst N. Mitchell now anticipates that the auto parts company will post earnings per share of $0.54 for the quarter, down from their prior estimate of $0.57. Northcoast Research also issued estimates for Monro Muffler Brake’s FY2018 earnings at $2.17 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.38 EPS and FY2019 earnings at $2.09 EPS.
Monro Muffler Brake (NASDAQ:MNRO) last announced its quarterly earnings data on Thursday, July 20th. The auto parts company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Monro Muffler Brake had a net margin of 5.84% and a return on equity of 10.90%. The business had revenue of $278.50 million for the quarter, compared to analyst estimates of $270.85 million. During the same period last year, the business earned $0.50 EPS. The company’s revenue was up 18.4% on a year-over-year basis.
Several other research firms have also recently issued reports on MNRO. TheStreet raised shares of Monro Muffler Brake from a “c+” rating to a “b-” rating in a report on Monday, October 2nd. Jefferies Group LLC cut shares of Monro Muffler Brake from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Zacks Investment Research cut shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $51.00 price target (down from $54.00) on shares of Monro Muffler Brake in a report on Saturday, July 22nd. Finally, BidaskClub raised shares of Monro Muffler Brake from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.33.
Shares of Monro Muffler Brake (NASDAQ MNRO) opened at 51.20 on Monday. Monro Muffler Brake has a 52 week low of $39.65 and a 52 week high of $61.75. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 27.26 and a beta of 0.73. The company’s 50-day moving average is $52.60 and its 200 day moving average is $49.02.
In related news, CEO Heel John W. Van sold 129,089 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $46.76, for a total value of $6,036,201.64. Following the completion of the transaction, the chief executive officer now owns 202,463 shares in the company, valued at approximately $9,467,169.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen C. Mccluski bought 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was bought at an average price of $46.45 per share, with a total value of $55,740.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 6,893 shares of company stock worth $328,155 and have sold 242,591 shares worth $11,369,832. 6.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MNRO. BlackRock Inc. grew its position in Monro Muffler Brake by 151,355.0% in the 1st quarter. BlackRock Inc. now owns 4,043,849 shares of the auto parts company’s stock valued at $210,685,000 after buying an additional 4,041,179 shares in the last quarter. Wasatch Advisors Inc. grew its position in Monro Muffler Brake by 85.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,588,911 shares of the auto parts company’s stock valued at $108,087,000 after buying an additional 1,193,473 shares in the last quarter. Arlington Value Capital LLC bought a new position in Monro Muffler Brake in the 2nd quarter valued at about $42,255,000. Clearbridge Investments LLC grew its position in Monro Muffler Brake by 57.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,601,634 shares of the auto parts company’s stock valued at $83,445,000 after buying an additional 581,973 shares in the last quarter. Finally, FMR LLC bought a new position in Monro Muffler Brake in the 2nd quarter valued at about $16,355,000.
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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