Monro Muffler Brake (NASDAQ:MNRO) declared a quarterly dividend on Tuesday, February 20th, Wall Street Journal reports. Investors of record on Friday, March 16th will be given a dividend of 0.18 per share by the auto parts company on Monday, March 26th. This represents a $0.72 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, March 15th.
Monro Muffler Brake has increased its dividend payment by an average of 12.4% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Monro Muffler Brake has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Monro Muffler Brake to earn $2.57 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 28.0%.
Shares of NASDAQ MNRO traded up $1.25 during trading hours on Thursday, hitting $57.10. 158,409 shares of the stock were exchanged, compared to its average volume of 291,171. The company has a quick ratio of 0.33, a current ratio of 1.06 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1,743.05, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.51 and a beta of 0.62. Monro Muffler Brake has a 12 month low of $39.65 and a 12 month high of $64.15.
A number of brokerages have issued reports on MNRO. TheStreet upgraded shares of Monro Muffler Brake from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. ValuEngine upgraded shares of Monro Muffler Brake from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Monro Muffler Brake from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub upgraded shares of Monro Muffler Brake from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Oppenheimer restated a “buy” rating on shares of Monro Muffler Brake in a research note on Tuesday, January 30th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $60.71.
In other news, insider Maureen Mulholland sold 3,000 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $51.00, for a total value of $153,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen C. Mccluski sold 10,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $55.51, for a total transaction of $555,100.00. The disclosure for this sale can be found here. 6.20% of the stock is owned by corporate insiders.
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Monro Muffler Brake Company Profile
Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.
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