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Monro, Inc., a leading automotive service provider, saw its stock price touch a 52-week low, dipping to $15.97. This latest price level reflects a significant downturn for the company, which has experienced a substantial 1-year change with a decline of nearly 46%. According to InvestingPro data, the stock appears undervalued at current levels, with technical indicators suggesting oversold conditions. Despite the challenges, Monro maintains a notable 6.8% dividend yield and has consistently paid dividends for 21 consecutive years. Investors are closely monitoring Monro’s performance as it navigates through a challenging market environment, with hopes for a strategic turnaround to regain its momentum. The company’s efforts to adapt to the evolving automotive service landscape will be critical in determining its ability to recover from this low point. InvestingPro subscribers have access to 10+ additional exclusive insights and comprehensive analysis about Monro’s financial health and future prospects through the Pro Research Report.
In other recent news, Monro Inc. reported its financial results for the third quarter of fiscal year 2024, revealing a shortfall in both earnings per share (EPS) and revenue compared to analyst forecasts. The company’s EPS was $0.19, missing the expected $0.30, while revenue reached $305.8 million, slightly below the projected $311.33 million. This marks a 3.7% decrease in revenue year-over-year, reflecting ongoing challenges in the automotive service industry. Additionally, Monro announced an amendment to its distribution and fulfillment agreement with American Tire Distributors, concluding the earnout period with two final payments totaling approximately $6.95 million to be made by ATD. The amendment also includes changes to service level agreements to ensure a steady supply of products to Monro. Analyst firms have not reported any upgrades or downgrades for Monro in this period. The company is focusing on operational improvements and cost management to navigate market dynamics. Monro also expects to generate at least $120 million in operating cash flow for fiscal 2025, with capital expenditures projected between $25 million and $30 million.
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