$0.14 Earnings Per Share Expected for Michaels Companies Inc (NASDAQ:MIK) This Quarter

Equities research analysts expect that Michaels Companies Inc (NASDAQ:MIK) will announce earnings per share of $0.14 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Michaels Companies’ earnings. The highest EPS estimate is $0.14 and the lowest is $0.13. Michaels Companies posted earnings per share of $0.15 in the same quarter last year, which indicates a negative year over year growth rate of 6.7%. The business is scheduled to issue its next earnings results on Thursday, August 29th.

On average, analysts expect that Michaels Companies will report full-year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.32 to $2.37. For the next financial year, analysts forecast that the company will report earnings of $2.45 per share, with EPS estimates ranging from $2.30 to $2.62. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Michaels Companies.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Michaels Companies had a negative return on equity of 22.82% and a net margin of 6.34%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share.

Several brokerages have recently weighed in on MIK. Morgan Stanley set a $9.00 price target on Michaels Companies and gave the company a “hold” rating in a research note on Monday, June 17th. BidaskClub cut Michaels Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Deutsche Bank decreased their price target on Michaels Companies from $16.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, June 7th. Credit Suisse Group cut Michaels Companies from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $11.00 in a research note on Friday, June 7th. Finally, Bank of America lowered Michaels Companies from a “neutral” rating to an “underperform” rating and cut their target price for the company from $9.00 to $5.00 in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $10.73.

Shares of MIK stock traded up $0.23 on Friday, hitting $6.76. The company had a trading volume of 1,877,110 shares, compared to its average volume of 2,541,748. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 2.88, a P/E/G ratio of 0.52 and a beta of 1.06. The company’s 50-day moving average price is $8.15. Michaels Companies has a twelve month low of $6.39 and a twelve month high of $21.11.

Several institutional investors have recently made changes to their positions in the stock. Financial Advocates Investment Management boosted its holdings in Michaels Companies by 11.0% in the fourth quarter. Financial Advocates Investment Management now owns 9,578 shares of the specialty retailer’s stock worth $345,000 after acquiring an additional 950 shares in the last quarter. Amalgamated Bank boosted its holdings in Michaels Companies by 5.1% in the fourth quarter. Amalgamated Bank now owns 21,820 shares of the specialty retailer’s stock worth $295,000 after acquiring an additional 1,058 shares in the last quarter. Royce & Associates LP boosted its holdings in Michaels Companies by 56.3% in the first quarter. Royce & Associates LP now owns 3,911 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 1,408 shares in the last quarter. AlphaOne Investment Services LLC boosted its holdings in Michaels Companies by 126.1% in the first quarter. AlphaOne Investment Services LLC now owns 3,211 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 1,791 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Michaels Companies by 512.3% in the first quarter. Meeder Asset Management Inc. now owns 2,492 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 2,085 shares in the last quarter.

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

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