Michaels Companies (MIK) Releases Quarterly Earnings Results
Michaels Companies (NYSE:MIK) announced its earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.07, ARN reports. The company had revenue of $948.00 million for the quarter, compared to the consensus estimate of $943.00 million.
Michaels Companies (NYSE:MIK) opened at 15.14 on Wednesday. Michaels Companies 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.
MIK has been the subject of a number of recent research reports. 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 the ratings front, 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 research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.00.
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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