Wall Street analysts forecast that Michaels Companies Inc (NASDAQ:MIK) will post earnings of $0.13 per share for the current quarter, Zacks Investment Research reports. Six analysts have made 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 posted 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 report its next quarterly earnings report before the market opens on Thursday, August 30th.

On average, analysts expect that Michaels Companies will report full year earnings of $2.32 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $2.40. For the next financial year, analysts anticipate that the firm will post earnings of $2.50 per share, with EPS estimates ranging from $2.36 to $2.64. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Michaels Companies.

Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings results on Thursday, June 14th. The specialty retailer reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Michaels Companies had a negative return on equity of 24.87% and a net margin of 6.44%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS.

Several equities research analysts have recently issued reports on MIK shares. ValuEngine upgraded Michaels Companies from a “sell” rating to a “hold” rating in a report on Friday, June 8th. Zacks Investment Research upgraded Michaels Companies from a “sell” rating to a “hold” rating in a report on Wednesday, May 23rd. Wells Fargo & Co started coverage on Michaels Companies in a report on Monday, April 23rd. They set a “market perform” rating and a $20.00 price target for the company. Finally, BidaskClub upgraded Michaels Companies from a “sell” rating to a “hold” rating in a report on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Michaels Companies has a consensus rating of “Hold” and an average target price of $23.80.

Institutional investors and hedge funds have recently bought and sold shares of the stock. WP Advisors LLC acquired a new stake in Michaels Companies in the 2nd quarter worth approximately $113,000. Cerebellum GP LLC acquired a new stake in Michaels Companies in the 2nd quarter worth approximately $162,000. Itau Unibanco Holding S.A. acquired a new stake in Michaels Companies in the 2nd quarter worth approximately $170,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Michaels Companies in the 4th quarter worth approximately $218,000. Finally, Verition Fund Management LLC acquired a new stake in Michaels Companies in the 1st quarter worth approximately $205,000.

Shares of Michaels Companies stock opened at $20.34 on Wednesday. The stock has a market cap of $3.69 billion, a PE ratio of 9.37, a PEG ratio of 1.14 and a beta of 1.24. The company has a debt-to-equity ratio of -1.82, a current ratio of 1.79 and a quick ratio of 0.60. Michaels Companies has a 52-week low of $17.66 and a 52-week high of $27.87.

Michaels Companies Company Profile

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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