Michaels Companies (MIK) Updates Q4 Earnings Guidance

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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.

Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, December 6th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. Michaels Companies had a net margin of 6.35% and a negative return on equity of 24.35%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned $0.44 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Michaels Companies will post 2.37 earnings per share for the current year.

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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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