Brokerages expect The Michaels Companies, Inc. (NASDAQ:MIK) to announce earnings per share (EPS) of $0.42 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for The Michaels Companies’ earnings, with estimates ranging from $0.42 to $0.43. The Michaels Companies posted earnings of $0.40 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The firm is expected to report its next quarterly earnings report on Tuesday, December 5th.

On average, analysts expect that The Michaels Companies will report full year earnings of $2.14 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.17. For the next fiscal year, analysts anticipate that the company will report earnings of $2.30 per share, with EPS estimates ranging from $2.13 to $2.40. Zacks’ earnings per share averages are an average based on a survey of research firms that follow The Michaels Companies.

The Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS.

A number of research firms have weighed in on MIK. ValuEngine lowered The Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Bank of America Corporation reiterated a “buy” rating and set a $29.00 price objective on shares of The Michaels Companies in a report on Tuesday, September 5th. Piper Jaffray Companies set a $18.00 price objective on The Michaels Companies and gave the company a “hold” rating in a report on Friday, August 25th. Zacks Investment Research upgraded The Michaels Companies from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, BidaskClub upgraded The Michaels Companies from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The Michaels Companies currently has an average rating of “Hold” and an average target price of $24.25.

The Michaels Companies (NASDAQ:MIK) opened at 21.49 on Friday. The Michaels Companies has a 1-year low of $17.25 and a 1-year high of $25.57. The stock has a 50 day moving average price of $20.93 and a 200-day moving average price of $20.71. The stock has a market cap of $3.89 billion, a PE ratio of 11.20 and a beta of 0.94.

The Michaels Companies announced that its board has authorized a stock buyback plan on Thursday, June 15th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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Several large investors have recently bought and sold shares of MIK. Nationwide Fund Advisors purchased a new stake in shares of The Michaels Companies during the 1st quarter worth $4,671,000. Profund Advisors LLC purchased a new stake in The Michaels Companies in the first quarter valued at $361,000. ProShare Advisors LLC purchased a new stake in The Michaels Companies in the first quarter valued at $209,000. Russell Investments Group Ltd. lifted its position in The Michaels Companies by 2,413.0% in the first quarter. Russell Investments Group Ltd. now owns 150,603 shares of the specialty retailer’s stock valued at $3,373,000 after acquiring an additional 144,610 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in The Michaels Companies by 429.3% in the first quarter. Great West Life Assurance Co. Can now owns 65,293 shares of the specialty retailer’s stock valued at $1,461,000 after acquiring an additional 52,957 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

About The Michaels Companies

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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