Michaels Companies (MIK) Updates Q4 Earnings Guidance
Michaels Companies (NASDAQ:MIK) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.42-1.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.41. Michaels Companies also updated its FY 2018 guidance to $2.35-2.39 EPS.
A number of equities analysts recently weighed in on MIK shares. ValuEngine downgraded shares of Michaels Companies from a sell rating to a strong sell rating in a report on Sunday, August 26th. BidaskClub upgraded shares of Michaels Companies from a buy rating to a strong-buy rating in a report on Wednesday, November 7th. Wells Fargo & Co reiterated a hold rating and issued a $19.00 price objective (down from $20.00) on shares of Michaels Companies in a report on Thursday, August 30th. Deutsche Bank decreased their price objective on shares of Michaels Companies from $21.00 to $19.00 and set a hold rating on the stock in a report on Friday, August 31st. Finally, Morgan Stanley decreased their price objective on shares of Michaels Companies from $23.00 to $20.00 and set an overweight rating on the stock in a report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $21.89.
Shares of MIK stock traded down $0.24 on Thursday, hitting $16.18. The company’s stock had a trading volume of 174,575 shares, compared to its average volume of 2,031,083. Michaels Companies has a fifty-two week low of $14.82 and a fifty-two week high of $27.87. The company has a market capitalization of $2.81 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04.
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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