Zacks: Analysts Expect Michaels Companies Inc (MIK) Will Announce Earnings of $1.20 Per Share

Analysts forecast that Michaels Companies Inc (NASDAQ:MIK) will post earnings of $1.20 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Michaels Companies’ earnings, with estimates ranging from $1.13 to $1.25. Michaels Companies posted earnings per share of $0.96 during the same quarter last year, which would indicate a positive year over year growth rate of 25%. The business is scheduled to issue its next earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Michaels Companies will report full-year earnings of $2.17 per share for the current year, with EPS estimates ranging from $2.11 to $2.24. For the next fiscal year, analysts forecast that the firm will report earnings of $2.56 per share, with EPS estimates ranging from $2.13 to $2.83. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Michaels Companies.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue was up 1.1% on a year-over-year basis.

MIK has been the subject of several analyst reports. BidaskClub cut shares of Michaels Companies from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Zacks Investment Research cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Piper Jaffray Companies cut shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a research note on Friday, October 27th. ValuEngine upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Michaels Companies in a research note on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Michaels Companies presently has an average rating of “Buy” and a consensus price target of $26.00.

Shares of Michaels Companies (NASDAQ MIK) traded up $0.29 during trading on Wednesday, reaching $26.06. 166,299 shares of the company’s stock traded hands, compared to its average volume of 1,679,415. Michaels Companies has a twelve month low of $17.25 and a twelve month high of $27.87. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56. The firm has a market cap of $4,621.84, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.83 and a beta of 0.99.

In other Michaels Companies news, CEO Carl Rubin sold 220,930 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $27.15, for a total value of $5,998,249.50. Following the transaction, the chief executive officer now directly owns 444,796 shares of the company’s stock, valued at approximately $12,076,211.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Michaels Companies by 7.1% during the 2nd quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock valued at $162,099,000 after purchasing an additional 583,585 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Michaels Companies by 5.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,120 shares of the specialty retailer’s stock valued at $391,000 after purchasing an additional 1,080 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Michaels Companies by 12.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 81,656 shares of the specialty retailer’s stock valued at $1,512,000 after purchasing an additional 8,881 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Michaels Companies by 0.9% during the 2nd quarter. Northern Trust Corp now owns 930,511 shares of the specialty retailer’s stock valued at $17,233,000 after purchasing an additional 8,655 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Michaels Companies by 11.5% during the 2nd quarter. California Public Employees Retirement System now owns 99,200 shares of the specialty retailer’s stock valued at $1,837,000 after purchasing an additional 10,200 shares during the last quarter.

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About 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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