Analysts Expect Michaels Companies Inc (MIK) to Post $0.13 EPS

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Wall Street brokerages predict that Michaels Companies Inc (NASDAQ:MIK) will report earnings per share (EPS) of $0.13 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Michaels Companies’ earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.14. Michaels Companies reported earnings per share of $0.19 during the same quarter last year, which indicates a negative year over year growth rate of 31.6%. The business is expected to issue its next earnings results before the market opens on Thursday, August 30th.

According to Zacks, analysts expect that Michaels Companies will report full year earnings of $2.32 per share for the current financial year, with EPS estimates ranging from $2.24 to $2.40. For the next financial year, analysts expect that the company will report earnings of $2.50 per share, with EPS estimates ranging from $2.36 to $2.64. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Michaels Companies.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, June 14th. The specialty retailer reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Michaels Companies had a net margin of 6.44% and a negative return on equity of 24.87%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share.

A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Michaels Companies from a “hold” rating to a “sell” rating in a research note on Saturday, June 16th. JPMorgan Chase & Co. restated a “focus list” rating on shares of Michaels Companies in a research note on Thursday, June 21st. Credit Suisse Group restated a “buy” rating on shares of Michaels Companies in a research note on Thursday, August 9th. BidaskClub upgraded shares of Michaels Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. Finally, Wells Fargo & Co assumed coverage on shares of Michaels Companies in a research note on Monday, April 23rd. They set a “market perform” rating and a $20.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.80.

NASDAQ MIK opened at $20.34 on Wednesday. Michaels Companies has a 12 month low of $17.66 and a 12 month high of $27.87. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 1.14 and a beta of 1.24. The company has a current ratio of 1.79, a quick ratio of 0.60 and a debt-to-equity ratio of -1.82.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIK. FMR LLC raised its position in shares of Michaels Companies by 835.3% during the second quarter. FMR LLC now owns 2,431,302 shares of the specialty retailer’s stock valued at $46,609,000 after buying an additional 2,171,363 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Michaels Companies during the second quarter valued at approximately $40,076,000. Tyvor Capital LLC raised its position in shares of Michaels Companies by 100.8% during the second quarter. Tyvor Capital LLC now owns 2,470,565 shares of the specialty retailer’s stock valued at $47,361,000 after buying an additional 1,240,426 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Michaels Companies by 3,274.4% during the first quarter. Neuberger Berman Group LLC now owns 754,646 shares of the specialty retailer’s stock valued at $14,874,000 after buying an additional 732,282 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Michaels Companies by 1,610.6% during the first quarter. UBS Group AG now owns 725,483 shares of the specialty retailer’s stock valued at $14,299,000 after buying an additional 683,072 shares during the last quarter.

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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