Michaels Companies Inc (NASDAQ:MIK) – Equities research analysts at Piper Jaffray Companies decreased their Q2 2020 earnings per share estimates for Michaels Companies in a research report issued to clients and investors on Monday, June 10th. Piper Jaffray Companies analyst P. Keith now expects that the specialty retailer will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.15. Piper Jaffray Companies currently has a “Underweight” rating and a $9.00 price target on the stock. Piper Jaffray Companies also issued estimates for Michaels Companies’ Q4 2020 earnings at $1.41 EPS, FY2020 earnings at $2.33 EPS, Q1 2021 earnings at $0.31 EPS, Q2 2021 earnings at $0.11 EPS and Q4 2021 earnings at $1.46 EPS.
MIK has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded shares of Michaels Companies from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $15.00 in a research report on Friday, March 1st. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research downgraded shares of Michaels Companies from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Telsey Advisory Group restated an “outperform” rating and issued a $17.00 price target (down from $20.00) on shares of Michaels Companies in a research report on Wednesday, March 20th. Finally, Bank of America downgraded shares of Michaels Companies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $15.00 in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.30.
Michaels Companies stock opened at $8.24 on Thursday. Michaels Companies has a 1 year low of $7.78 and a 1 year high of $22.15. The stock has a market capitalization of $1.35 billion, a PE ratio of 3.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.20.
Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.11 billion. Michaels Companies had a net margin of 6.34% and a negative return on equity of 22.82%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS.
A number of large investors have recently modified their holdings of MIK. Cresset Asset Management LLC bought a new stake in shares of Michaels Companies during the 1st quarter worth about $25,000. Meeder Asset Management Inc. raised its position in shares of Michaels Companies by 512.3% during the 1st quarter. Meeder Asset Management Inc. now owns 2,492 shares of the specialty retailer’s stock worth $28,000 after buying an additional 2,085 shares in the last quarter. AlphaOne Investment Services LLC raised its position in shares of Michaels Companies by 126.1% during the 1st quarter. AlphaOne Investment Services LLC now owns 3,211 shares of the specialty retailer’s stock worth $37,000 after buying an additional 1,791 shares in the last quarter. Royce & Associates LP raised its position in shares of Michaels Companies by 56.3% during the 1st quarter. Royce & Associates LP now owns 3,911 shares of the specialty retailer’s stock worth $45,000 after buying an additional 1,408 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Michaels Companies during the 4th quarter worth about $64,000.
About Michaels Companies
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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