Michaels Companies (NASDAQ:MIK) posted its quarterly earnings data on Thursday. The specialty retailer reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01, Bloomberg Earnings reports. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. Michaels Companies’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. Michaels Companies updated its Q4 guidance to $1.15-1.18 EPS.
Shares of Michaels Companies (NASDAQ MIK) traded up $2.25 during midday trading on Friday, hitting $21.60. 11,170,500 shares of the company traded hands, compared to its average volume of 2,183,960. Michaels Companies has a one year low of $17.25 and a one year high of $25.36. The company has a debt-to-equity ratio of -1.53, a current ratio of 1.44 and a quick ratio of 0.26. The stock has a market capitalization of $3,500.27, a PE ratio of 10.02, a P/E/G ratio of 0.86 and a beta of 0.86.
A number of analysts have weighed in on MIK shares. BidaskClub upgraded Michaels Companies from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research cut shares of Michaels Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. ValuEngine raised shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Piper Jaffray Companies cut shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a research report on Friday, October 27th. Finally, Bank of America reissued a “buy” rating and set a $29.00 price objective on shares of Michaels Companies in a research report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.00.
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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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