Monro Shares Down 16% In Pre-Market As Q4 Results Fall Short Of Estimates

(RTTNews) - Shares of Monro, Inc. (MNRO) were down more than 16 percent in pre-market on Thursday to $21.80, after the automotive services company's fourth-quarter results missed analysts' view.

Excluding items, earnings for the fourth quarter were $0.21 per share, that missed the average estimate of $0.30 per share, complied by Thomson-Reuters.

Net income increased to $3.7 million or $0.12 per share from $0.4 million or $0.01 per share in the prior-year quarter.

Sales for the quarter declined 0.2 percent to $310.1 million from $310.8 million in the same quarter last year. Analysts expected revenues of $320.24 million for the quarter.

Monro shares had closed at $25.96, down 1.78 percent on Wednesday. The stock has been trading in the range of $22.72 - $44.11 in the last 1 year.