Zacks: Analysts Expect Michaels Companies Inc (MIK) Will Post Earnings of $0.44 Per Share

Wall Street brokerages expect Michaels Companies Inc (NASDAQ:MIK) to announce earnings of $0.44 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Michaels Companies’ earnings. The lowest EPS estimate is $0.42 and the highest is $0.45. Michaels Companies also reported earnings per share of $0.44 during the same quarter last year. The company is expected to issue its next earnings results on Thursday, November 29th.

According to Zacks, analysts expect that Michaels Companies will report full-year earnings of $2.35 per share for the current year, with EPS estimates ranging from $2.30 to $2.38. For the next financial year, analysts forecast that the firm will report earnings of $2.53 per share, with EPS estimates ranging from $2.31 to $2.67. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Michaels Companies.

Michaels Companies (NASDAQ:MIK) last posted its earnings results on Thursday, August 30th. The specialty retailer reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Michaels Companies had a net margin of 6.31% and a negative return on equity of 24.56%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.19 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis.

Several brokerages recently commented on MIK. Credit Suisse Group reiterated a “buy” rating on shares of Michaels Companies in a report on Thursday, August 9th. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Monday, June 25th. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Michaels Companies in a report on Thursday, June 21st. Wells Fargo & Co reiterated a “hold” rating and set a $19.00 price target (down from $20.00) on shares of Michaels Companies in a report on Thursday, August 30th. Finally, Deutsche Bank cut their price target on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, August 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Michaels Companies has a consensus rating of “Hold” and an average price target of $22.78.

Michaels Companies stock opened at $15.49 on Friday. Michaels Companies has a twelve month low of $14.82 and a twelve month high of $27.87. The company has a debt-to-equity ratio of -1.59, a quick ratio of 0.26 and a current ratio of 1.48. The stock has a market capitalization of $2.78 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 0.90 and a beta of 1.13.

A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Michaels Companies by 5.4% in the 2nd quarter. Northern Trust Corp now owns 915,725 shares of the specialty retailer’s stock valued at $17,554,000 after buying an additional 46,895 shares during the period. Bank of New York Mellon Corp boosted its position in Michaels Companies by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,748,896 shares of the specialty retailer’s stock valued at $33,526,000 after buying an additional 26,109 shares during the period. Public Employees Retirement System of Ohio boosted its position in Michaels Companies by 113.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 131,038 shares of the specialty retailer’s stock valued at $2,512,000 after buying an additional 69,606 shares during the period. Verition Fund Management LLC boosted its position in Michaels Companies by 107.4% in the 2nd quarter. Verition Fund Management LLC now owns 21,582 shares of the specialty retailer’s stock valued at $414,000 after buying an additional 11,177 shares during the period. Finally, California Public Employees Retirement System boosted its position in Michaels Companies by 37.3% in the 2nd quarter. California Public Employees Retirement System now owns 272,248 shares of the specialty retailer’s stock valued at $5,219,000 after buying an additional 73,962 shares during the period.

Michaels Companies Company Profile

The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.

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