Brokerages expect Monro Muffler Brake, Inc. (NASDAQ:MNRO) to post $279.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Monro Muffler Brake’s earnings, with the lowest sales estimate coming in at $276.90 million and the highest estimate coming in at $281.60 million. Monro Muffler Brake reported sales of $248.58 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The business is scheduled to announce its next quarterly earnings report 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 year, with estimates ranging from $1.15 billion to $1.16 billion. For the next year, analysts anticipate that the business will post 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 sell-side research firms that that provide coverage for Monro Muffler Brake.
Monro Muffler Brake (NASDAQ:MNRO) last released its earnings results on Thursday, July 20th. The auto parts company reported $0.55 EPS for the quarter, topping the consensus estimate 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 business had revenue of $278.50 million during the quarter, compared to analysts’ expectations of $270.85 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis.
MNRO has been the subject of several research analyst reports. Oppenheimer Holdings, Inc. set a $70.00 price target on shares of Monro Muffler Brake and gave the company a “buy” rating in a research note on Thursday, May 18th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Monro Muffler Brake in a research note on Monday, May 15th. TheStreet downgraded shares of Monro Muffler Brake from a “b-” rating to a “c+” rating in a research note on Tuesday, May 23rd. Stephens downgraded shares of Monro Muffler Brake from an “overweight” rating to an “equal weight” rating in a research note on Thursday, June 29th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $61.00 price target on shares of Monro Muffler Brake in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $63.33.
Monro Muffler Brake (NASDAQ MNRO) traded down 1.41% during midday trading on Wednesday, reaching $45.35. The company had a trading volume of 176,137 shares. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 24.15 and a beta of 0.71. The company has a 50-day moving average price of $44.75 and a 200-day moving average price of $50.15. Monro Muffler Brake has a one year low of $39.65 and a one year high of $62.07.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be issued a $0.18 dividend. This is a positive change from Monro Muffler Brake’s previous quarterly dividend of $0.11. This represents a $0.72 annualized dividend and a yield of 1.59%. The ex-dividend date is Thursday, August 24th. Monro Muffler Brake’s payout ratio is currently 38.30%.
In related news, President Brett Ponton acquired 5,193 shares of the stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $47.93 per share, for a total transaction of $248,900.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert G. Gross sold 1,473 shares of Monro Muffler Brake stock in a transaction on Monday, July 24th. The stock was sold at an average price of $46.76, for a total transaction of $68,877.48. Following the sale, the chief executive officer now owns 132,807 shares of the company’s stock, valued at $6,210,055.32. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 6,893 shares of company stock worth $328,155 and sold 244,064 shares worth $11,438,709. 6.20% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of MNRO. State Street Corp increased its stake in Monro Muffler Brake by 6.4% in the first quarter. State Street Corp now owns 845,677 shares of the auto parts company’s stock valued at $44,059,000 after buying an additional 50,736 shares during the last quarter. Legal & General Group Plc increased its stake in Monro Muffler Brake by 2.6% in the first quarter. Legal & General Group Plc now owns 57,925 shares of the auto parts company’s stock valued at $3,018,000 after buying an additional 1,457 shares during the last quarter. Bank of Montreal Can increased its stake in Monro Muffler Brake by 166.9% in the second quarter. Bank of Montreal Can now owns 143,518 shares of the auto parts company’s stock valued at $5,992,000 after buying an additional 89,746 shares during the last quarter. Bank of America Corp DE increased its stake in Monro Muffler Brake by 52.5% in the first quarter. Bank of America Corp DE now owns 299,854 shares of the auto parts company’s stock valued at $15,623,000 after buying an additional 103,291 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Monro Muffler Brake by 3.6% in 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 buying an additional 20,663 shares during the last quarter.
About Monro Muffler Brake
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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