Zacks: Analysts Expect Michaels Companies Inc (MIK) Will Post Earnings of $1.17 Per Share

Analysts forecast that Michaels Companies Inc (NASDAQ:MIK) will post $1.17 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Michaels Companies’ earnings, with the lowest EPS estimate coming in at $1.13 and the highest estimate coming in at $1.19. Michaels Companies posted earnings per share of $0.96 during the same quarter last year, which indicates a positive year over year growth rate of 21.9%. The firm is expected to report its next earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that Michaels Companies will report full-year earnings of $2.15 per share for the current year, with EPS estimates ranging from $2.11 to $2.18. For the next fiscal year, analysts forecast that the firm will post earnings of $2.33 per share, with EPS estimates ranging from $2.13 to $2.40. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Michaels Companies.

Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted $0.40 EPS. Michaels Companies’s quarterly revenue was up 1.1% compared to the same quarter last year.

A number of research analysts have commented on the company. ValuEngine downgraded Michaels Companies from a “buy” rating to a “hold” rating in a report on Sunday. BidaskClub raised Michaels Companies from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Deutsche Bank downgraded Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a report on Tuesday, December 12th. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Michaels Companies in a report on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.63.

Several institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new stake in Michaels Companies in the 2nd quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Michaels Companies by 11.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after acquiring an additional 549 shares during the period. Pinebridge Investments L.P. acquired a new stake in Michaels Companies in the 2nd quarter valued at approximately $124,000. Pacer Advisors Inc. increased its position in Michaels Companies by 5.0% in the 2nd quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after acquiring an additional 383 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Michaels Companies in the 3rd quarter valued at approximately $211,000.

Michaels Companies (MIK) traded down $0.13 during trading hours on Thursday, reaching $24.21. The company’s stock had a trading volume of 1,547,800 shares, compared to its average volume of 1,675,100. The company has a current ratio of 1.39, a quick ratio of 0.25 and a debt-to-equity ratio of -1.56. Michaels Companies has a 52 week low of $17.25 and a 52 week high of $24.52. The company has a market cap of $4,390.00, a P/E ratio of 12.29, a PEG ratio of 1.09 and a beta of 0.92.

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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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