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.
WARNING: “Michaels Companies (MIK) Announces Earnings Results, Beats Estimates By $0.04 EPS” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://www.chaffeybreeze.com/2018/12/08/michaels-companies-mik-announces-earnings-results-beats-estimates-by-0-04-eps.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 Article: How dollar cost averaging works
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.