Monro Muffler Brake, Inc. – Momentum – Zacks Rank Buy
Source: http://www.zacks.com/commentary/9518/Monro+Muffler+Brake%2C+Inc.+-+Momentum+-+Zacks+Rank+BuyPosted on Thursday, December 18th, 2008 | In Stocks to Watch
Monro Muffler Brake, Inc. (MNRO) has been rapidly advancing since bottoming out in late November. The company raised its full-year 2009 earnings guidance after reporting strong second-quarter results in October.
Company Description
Monro Muffler Brake, Inc. provides automotive repair and tire services for cars, trucks and vans. The company operates 720 company owned and 14 dealer operated stores and has a market cap of $435 million.
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Excellent Second-Quarter Results
Monro reported strong second-quarter results on Oct 21 that were ahead of analyst estimates. Sales were up 7% from last year to $119.9 million. Net income came in at $7.7 million, up from $6.5 million last year. This produced earnings of 38 cents per share, ahead of estimates by 2 cents.
Consistent Results
This was the fourth time in the last four quarters that the company has either beat or matched analyst estimates, having done so by an average of 2 cents, or 4%.
Monro said that its same-store sales, a key indicator in the retail sector, were up 4.5%, with a 6.6% rise in its former ProCare stores.
Guidance and Estimates
After the solid quarter, Monro went ahead and raised its 2009 full-year earnings guidance to between $1.14 and $1.19 per share, up from the previous $1.10 to $1.18.
The analyst community is bullish as well, with the next-year estimate pegged at $1.36 per share, a 15% earnings growth projection.
The Chart
Shares of MNRO have been on a nice rally since bottoming out just above $15 on Nov 21, recently topping off above $24. The 52-week high is close at hand at $26, take a look below.
“MNRO” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research
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 About Michael Vodicka (http://www.zacks.com/)
Michael is an Editor at Zacks Investment Research who covers the Momentum and Aggressive Stocks for the Zacks Rank Buys. |
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