Equities research analysts forecast that Michaels Companies Inc (NASDAQ:MIK) will report earnings of $1.20 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Michaels Companies’ earnings, with the lowest EPS estimate coming in at $1.13 and the highest estimate coming in at $1.25. Michaels Companies reported 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 firm is expected to issue its next quarterly earnings results on Tuesday, March 6th.

On average, analysts expect that Michaels Companies will report full year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.24. For the next financial 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’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Michaels Companies.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year.

A number of research analysts have recently issued reports on MIK shares. Zacks Investment Research lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. ValuEngine upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Piper Jaffray Companies lowered shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a research report on Friday, October 27th. Deutsche Bank lowered shares of Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Tuesday, December 12th. Finally, BidaskClub lowered shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 9th. 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 stock. Michaels Companies has an average rating of “Buy” and an average price target of $26.00.

In other Michaels Companies news, CEO Carl Rubin sold 220,930 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $27.15, for a total transaction of $5,998,249.50. Following the transaction, the chief executive officer now directly owns 444,796 shares in the company, valued at $12,076,211.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MIK. BlackRock Inc. lifted its holdings in shares of Michaels Companies by 7.1% in the second 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 in the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Michaels Companies by 5.4% in the second 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 in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Michaels Companies by 12.2% in the second 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of Michaels Companies by 0.9% in the second 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 in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Michaels Companies by 11.5% in the second 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 in the last quarter.

Shares of Michaels Companies (NASDAQ:MIK) traded up $0.82 during trading on Wednesday, hitting $24.86. 1,426,485 shares of the stock were exchanged, compared to its average volume of 1,805,496. Michaels Companies has a twelve month low of $17.25 and a twelve month high of $27.87. The company has a current ratio of 1.39, a quick ratio of 0.25 and a debt-to-equity ratio of -1.56. The firm has a market capitalization of $4,360.00, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.78 and a beta of 0.99.

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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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