Brokerages Expect Michaels Companies Inc (MIK) to Post $1.20 EPS

Brokerages predict that Michaels Companies Inc (NASDAQ:MIK) will announce earnings of $1.20 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Michaels Companies’ earnings, with the highest EPS estimate coming in at $1.25 and the lowest estimate coming in at $1.13. Michaels Companies posted earnings per share of $0.96 in the same quarter last year, which suggests a positive year over year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Tuesday, March 6th.

On average, analysts expect that Michaels Companies will report full-year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.24. For the next fiscal year, analysts anticipate that the company will post earnings of $2.56 per share, with EPS estimates ranging from $2.13 to $2.83. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Michaels Companies.

Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $0.40 EPS. The company’s revenue was up 1.1% on a year-over-year basis.

A number of analysts recently weighed in on MIK shares. Zacks Investment Research upgraded Michaels Companies from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. BidaskClub downgraded Michaels Companies from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. Piper Jaffray Companies downgraded Michaels Companies from a “neutral” rating to an “underweight” rating in a research note on Friday, October 27th. Deutsche Bank downgraded Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Tuesday, December 12th. Finally, ValuEngine downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Michaels Companies has an average rating of “Buy” and a consensus price target of $26.00.

In other news, CEO Carl Rubin sold 220,930 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $27.15, for a total value of $5,998,249.50. Following the completion of the transaction, the chief executive officer now directly owns 444,796 shares of the company’s stock, valued at $12,076,211.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System boosted its position in shares of Michaels Companies by 35.2% in the fourth quarter. California Public Employees Retirement System now owns 182,614 shares of the specialty retailer’s stock worth $4,417,000 after buying an additional 47,524 shares during the period. Icon Advisers Inc. Co. acquired a new position in shares of Michaels Companies in the fourth quarter worth about $1,185,000. Teacher Retirement System of Texas lifted its stake in shares of Michaels Companies by 269.3% in the fourth quarter. Teacher Retirement System of Texas now owns 37,442 shares of the specialty retailer’s stock worth $906,000 after acquiring an additional 27,303 shares in the last quarter. ING Groep NV lifted its stake in shares of Michaels Companies by 23.2% in the fourth quarter. ING Groep NV now owns 16,659 shares of the specialty retailer’s stock worth $403,000 after acquiring an additional 3,138 shares in the last quarter. Finally, Blue Sky Asset Management LLC acquired a new position in shares of Michaels Companies in the fourth quarter worth about $1,224,000.

Shares of Michaels Companies (NASDAQ:MIK) traded up $0.29 during mid-day trading on Wednesday, hitting $26.06. The company’s stock had a trading volume of 166,299 shares, compared to its average volume of 1,679,415. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56. Michaels Companies has a one year low of $17.25 and a one year high of $27.87. The stock has a market cap of $4,621.84, a P/E ratio of 13.25, a P/E/G ratio of 0.83 and a beta of 0.99.

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Michaels Companies Company Profile

The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

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