Brokerages Anticipate Michaels Companies Inc (MIK) Will Post Earnings of $0.44 Per Share

Analysts expect Michaels Companies Inc (NASDAQ:MIK) to announce $0.44 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Michaels Companies’ earnings, with estimates ranging from $0.42 to $0.45. Michaels Companies also posted earnings of $0.44 per share in the same quarter last year. The company is scheduled to report its next earnings report before the market opens on Thursday, December 6th.

On average, 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 fiscal year, analysts anticipate that the company will report earnings of $2.52 per share, with EPS estimates ranging from $2.31 to $2.67. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Michaels Companies.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, August 30th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $0.19 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis.

MIK has been the topic of several recent research reports. ValuEngine downgraded shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Credit Suisse Group reiterated a “buy” rating on shares of Michaels Companies in a research report on Thursday, August 9th. BidaskClub downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Wells Fargo & Co reiterated a “hold” rating and issued a $19.00 price objective (down from $20.00) on shares of Michaels Companies in a research report on Thursday, August 30th. Finally, Deutsche Bank cut their price objective on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, August 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Michaels Companies currently has a consensus rating of “Hold” and an average target price of $22.22.

Shares of NASDAQ:MIK opened at $16.65 on Friday. The stock has a market capitalization of $2.85 billion, a P/E ratio of 7.67, a PEG ratio of 0.93 and a beta of 1.03. Michaels Companies has a fifty-two week low of $14.82 and a fifty-two week high of $27.87.

A number of large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in Michaels Companies by 13.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 659,448 shares of the specialty retailer’s stock valued at $12,642,000 after buying an additional 76,319 shares during the period. Bank of New York Mellon Corp increased its stake in Michaels Companies by 1.5% during 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. Seven Eight Capital LP acquired a new position in Michaels Companies during the 3rd quarter valued at about $4,702,000. BlackRock Inc. increased its stake in Michaels Companies by 0.9% during the 2nd quarter. BlackRock Inc. now owns 9,456,390 shares of the specialty retailer’s stock valued at $181,279,000 after buying an additional 85,558 shares during the period. Finally, Clearline Capital LP acquired a new position in Michaels Companies during the 2nd quarter valued at about $2,730,000.

About Michaels Companies

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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