$1.80 Billion in Sales Expected for Michaels Companies Inc (MIK) This Quarter

Equities research analysts expect Michaels Companies Inc (NASDAQ:MIK) to announce $1.80 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Michaels Companies’ earnings. The lowest sales estimate is $1.78 billion and the highest is $1.83 billion. Michaels Companies reported sales of $1.89 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 4.8%. The firm is scheduled to issue its next quarterly earnings results on Thursday, March 28th.

On average, analysts expect that Michaels Companies will report full-year sales of $5.29 billion for the current financial year, with estimates ranging from $5.27 billion to $5.37 billion. For the next year, analysts expect that the firm will post sales of $5.35 billion, with estimates ranging from $5.29 billion to $5.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Michaels Companies.

Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, December 6th. The specialty retailer reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Michaels Companies had a net margin of 6.35% and a negative return on equity of 24.35%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS.

Several brokerages have issued reports on MIK. Bank of America reissued a “buy” rating and issued a $21.00 price target (down previously from $25.00) on shares of Michaels Companies in a report on Wednesday. BidaskClub raised shares of Michaels Companies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. Zacks Investment Research reissued a “buy” rating and issued a $14.00 price target on shares of Michaels Companies in a report on Monday, December 31st. Citigroup began coverage on shares of Michaels Companies in a report on Thursday, December 20th. They issued a “market weight” rating on the stock. Finally, Loop Capital set a $14.00 price target on shares of Michaels Companies and gave the company a “hold” rating in a report on Thursday, December 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.60.

Several institutional investors and hedge funds have recently bought and sold shares of MIK. Itau Unibanco Holding S.A. bought a new stake in Michaels Companies during the 2nd quarter worth about $170,000. We Are One Seven LLC bought a new stake in Michaels Companies during the 3rd quarter worth about $180,000. State of Alaska Department of Revenue grew its holdings in Michaels Companies by 138.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock worth $187,000 after acquiring an additional 6,762 shares during the last quarter. Franklin Resources Inc. bought a new stake in Michaels Companies during the 3rd quarter worth about $195,000. Finally, Victory Capital Management Inc. bought a new stake in Michaels Companies during the 3rd quarter worth about $304,000.

Michaels Companies stock traded up $0.43 on Friday, hitting $15.98. The company’s stock had a trading volume of 1,229,416 shares, compared to its average volume of 2,110,837. The firm has a market capitalization of $2.54 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22. Michaels Companies has a one year low of $12.48 and a one year high of $27.87.

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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