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Michaels Companies Inc (NYSE:MIK) issued an update on its FY15 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.38-1.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.36, StockRatingsNetwork reports.

A number of analysts have recently weighed in on MIK shares. Analysts at Macquarie initiated coverage on shares of Michaels Companies in a research note on Thursday, August 7th. They set a neutral rating and a $16.00 price target on the stock. On a related note, analysts at Telsey Advisory Group initiated coverage on shares of Michaels Companies in a research note on Wednesday, August 6th. They set a not rated rating and a $18.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Michaels Companies in a research note on Wednesday, August 6th. They set an equal weight rating and a $16.00 price target on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $19.00.

Shares of Michaels Companies Inc (NYSE:MIK) opened at 15.14 on Wednesday. Michaels Companies Inc has a 52 week low of $14.51 and a 52 week high of $17.28. The stock’s 50-day moving average is $15.75 and its 200-day moving average is $15.92. The company has a market cap of $3.075 billion and a P/E ratio of 13.20.

Michaels Companies (NYSE:MIK) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.07. The company had revenue of $948.00 million for the quarter, compared to the consensus estimate of $943.00 million. Michaels Companies’s revenue was up 4.9% compared to the same quarter last year.

The Michaels Companies, Inc is an arts and crafts specialty retailer in North America. The Company also operates a vertically integrated custom framing business.

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