Zacks: Brokerages Expect Monro Muffler Brake, Inc. (MNRO) Will Post Quarterly Sales of $279.88 Million
Wall Street brokerages forecast that Monro Muffler Brake, Inc. (NASDAQ:MNRO) will report sales of $279.88 million for the current quarter, according to Zacks. Four analysts have provided estimates for Monro Muffler Brake’s earnings, with the highest sales estimate coming in at $281.60 million and the lowest estimate coming in at $276.90 million. Monro Muffler Brake posted sales of $248.58 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The company is expected to issue its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Monro Muffler Brake will report full-year sales of $279.88 million for the current fiscal 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 Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Monro Muffler Brake.
Monro Muffler Brake (NASDAQ:MNRO) last issued its quarterly earnings results on Thursday, July 20th. The auto parts company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Monro Muffler Brake had a return on equity of 10.90% and a net margin of 5.84%. The firm had revenue of $278.50 million for the quarter, compared to analysts’ expectations of $270.85 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year.
A number of analysts have commented on MNRO shares. TheStreet lowered Monro Muffler Brake from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $51.00 target price (down previously from $54.00) on shares of Monro Muffler Brake in a report on Saturday, July 22nd. BidaskClub lowered Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Monro Muffler Brake in a report on Tuesday, June 20th. Finally, Stephens lowered Monro Muffler Brake from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Monro Muffler Brake currently has an average rating of “Hold” and a consensus target price of $63.33.
In other news, President Brett Ponton purchased 5,193 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of $47.93 per share, for a total transaction of $248,900.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen C. Mccluski purchased 1,200 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was purchased at an average price of $46.45 per share, for a total transaction of $55,740.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 6,893 shares of company stock worth $328,155 and sold 244,064 shares worth $11,438,709. Company insiders own 6.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC lifted its position in Monro Muffler Brake by 1.8% during the fourth quarter. Teachers Advisors LLC now owns 51,425 shares of the auto parts company’s stock valued at $2,942,000 after purchasing an additional 912 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Monro Muffler Brake by 1.6% during the first quarter. Nisa Investment Advisors LLC now owns 4,470 shares of the auto parts company’s stock valued at $233,000 after purchasing an additional 70 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in Monro Muffler Brake by 7.5% during the first quarter. Great West Life Assurance Co. Can now owns 46,024 shares of the auto parts company’s stock valued at $2,395,000 after purchasing an additional 3,217 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Monro Muffler Brake by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 594,199 shares of the auto parts company’s stock valued at $30,959,000 after purchasing an additional 20,663 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its position in Monro Muffler Brake by 14.0% during the first quarter. Suntrust Banks Inc. now owns 8,303 shares of the auto parts company’s stock valued at $431,000 after purchasing an additional 1,020 shares in the last quarter.
Shares of Monro Muffler Brake (NASDAQ:MNRO) traded up 0.10% on Friday, hitting $50.00. The stock had a trading volume of 311,325 shares. Monro Muffler Brake has a 12 month low of $39.65 and a 12 month high of $62.07. The stock has a 50 day moving average of $46.92 and a 200-day moving average of $49.18. The stock has a market cap of $1.64 billion, a PE ratio of 26.62 and a beta of 0.71.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were paid a $0.18 dividend. This is an increase from Monro Muffler Brake’s previous quarterly dividend of $0.11. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, August 24th. Monro Muffler Brake’s dividend payout ratio (DPR) is 38.30%.
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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