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 research analysts have recently commented on the company. BidaskClub downgraded Michaels Companies from a strong-buy rating to a buy rating in a research report on Saturday. Loop Capital set a $18.00 target price on shares of Michaels Companies and gave the company a hold rating in a research note on Thursday. Wells Fargo & Co reissued a hold rating and set a $17.00 target price (down from $19.00) on shares of Michaels Companies in a research note on Thursday. Deutsche Bank cut their target price on shares of Michaels Companies from $21.00 to $19.00 and set a hold rating on the stock in a research note on Friday, August 31st. Finally, Zacks Investment Research downgraded shares of Michaels Companies from a buy rating to a hold rating in a research note on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Michaels Companies currently has an average rating of Hold and a consensus target price of $21.67.
Shares of NASDAQ:MIK opened at $15.65 on Friday. Michaels Companies has a 12-month low of $14.82 and a 12-month high of $27.87. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.90 and a beta of 1.04.
ILLEGAL ACTIVITY NOTICE: This piece was originally published by BBNS and is owned by of BBNS. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://baseballnewssource.com/2018/12/08/michaels-companies-mik-updates-q4-earnings-guidance/3064647.html.
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.
Featured Story: No Load Funds
Receive News & Ratings for Michaels Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michaels Companies and related companies with MarketBeat.com's FREE daily email newsletter.