$0.31 EPS Expected for Michaels Companies Inc (MIK) This Quarter

Equities analysts forecast that Michaels Companies Inc (NASDAQ:MIK) will post earnings per share of $0.31 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Michaels Companies’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.31. Michaels Companies posted earnings of $0.39 per share in the same quarter last year, which indicates a negative year over year growth rate of 20.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, June 13th.

According to Zacks, analysts expect that Michaels Companies will report full-year earnings of $2.46 per share for the current fiscal year, with EPS estimates ranging from $2.36 to $2.54. For the next year, analysts forecast that the business will report earnings of $2.61 per share, with EPS estimates ranging from $2.33 to $2.78. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Michaels Companies.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Tuesday, March 19th. The specialty retailer reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.02. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. Michaels Companies had a negative return on equity of 24.50% and a net margin of 6.06%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 EPS.

Several research firms have weighed in on MIK. BidaskClub lowered Michaels Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Zacks Investment Research lowered Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Telsey Advisory Group reissued an “outperform” rating and set a $17.00 target price (down from $20.00) on shares of Michaels Companies in a report on Wednesday, March 20th. Finally, Citigroup started coverage on Michaels Companies in a report on Thursday, December 20th. They set a “market weight” rating on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.30.

Hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new position in Michaels Companies in the 4th quarter valued at $2,740,000. California Public Employees Retirement System grew its holdings in Michaels Companies by 9.1% in the 4th quarter. California Public Employees Retirement System now owns 203,656 shares of the specialty retailer’s stock valued at $2,758,000 after buying an additional 16,940 shares in the last quarter. Denali Advisors LLC acquired a new position in Michaels Companies in the 4th quarter valued at $1,154,000. Credit Suisse AG grew its holdings in Michaels Companies by 5.9% in the 3rd quarter. Credit Suisse AG now owns 135,981 shares of the specialty retailer’s stock valued at $2,207,000 after buying an additional 7,623 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its holdings in Michaels Companies by 161.3% in the 4th quarter. NumerixS Investment Technologies Inc now owns 24,300 shares of the specialty retailer’s stock valued at $326,000 after buying an additional 15,000 shares in the last quarter.

Shares of NASDAQ:MIK traded down $0.17 during trading on Thursday, hitting $12.68. 114,355 shares of the company were exchanged, compared to its average volume of 3,813,433. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 5.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.11. Michaels Companies has a fifty-two week low of $10.90 and a fifty-two week high of $22.15.

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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Earnings History and Estimates for Michaels Companies (NASDAQ:MIK)

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