Michaels Companies (MIK) Announces Earnings Results, Beats Estimates By $0.04 EPS

Michaels Companies (NASDAQ:MIK) posted its earnings results on Thursday. The specialty retailer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04, MarketWatch Earnings reports. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Michaels Companies had a net margin of 6.35% and a negative return on equity of 24.35%. Michaels Companies’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS.

Shares of MIK stock opened at $15.65 on Friday. Michaels Companies has a one year low of $14.82 and a one year high of $27.87. The company has a market capitalization of $2.80 billion, a PE ratio of 7.38, a P/E/G ratio of 0.90 and a beta of 1.04.

Several hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in shares of Michaels Companies by 4.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 95,902 shares of the specialty retailer’s stock worth $1,838,000 after acquiring an additional 4,180 shares during the last quarter. Dupont Capital Management Corp lifted its holdings in shares of Michaels Companies by 12.6% in the 2nd quarter. Dupont Capital Management Corp now owns 37,704 shares of the specialty retailer’s stock worth $723,000 after acquiring an additional 4,209 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Michaels Companies by 9.7% in the 3rd quarter. Hsbc Holdings PLC now owns 50,819 shares of the specialty retailer’s stock worth $825,000 after acquiring an additional 4,514 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Michaels Companies by 34.1% in the 2nd quarter. D.A. Davidson & CO. now owns 17,841 shares of the specialty retailer’s stock worth $342,000 after acquiring an additional 4,537 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Michaels Companies by 26.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,700 shares of the specialty retailer’s stock worth $416,000 after acquiring an additional 4,563 shares during the last quarter.

Several equities analysts have weighed in on MIK shares. Zacks Investment Research lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Morgan Stanley decreased their target price 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. ValuEngine upgraded shares of Michaels Companies from a “strong sell” rating to a “sell” rating in a report on Monday, August 20th. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Saturday, October 13th. Finally, Deutsche Bank decreased their target price 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Michaels Companies has a consensus rating of “Hold” and a consensus target price of $21.67.

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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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Earnings History for Michaels Companies (NASDAQ:MIK)

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