Wall Street brokerages forecast that Michaels Companies Inc (NASDAQ:MIK) will report $1.26 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Michaels Companies’ earnings, with the lowest sales estimate coming in at $1.25 billion and the highest estimate coming in at $1.27 billion. Michaels Companies posted sales of $1.24 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.6%. The company is expected to issue its next quarterly earnings results on Thursday, November 29th.

According to Zacks, analysts expect that Michaels Companies will report full-year sales of $5.28 billion for the current fiscal year, with estimates ranging from $5.24 billion to $5.36 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.34 billion, with estimates ranging from $5.28 billion to $5.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Michaels Companies.

Michaels Companies (NASDAQ:MIK) last released its earnings results on Thursday, August 30th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Michaels Companies had a negative return on equity of 24.56% and a net margin of 6.31%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS.

A number of equities analysts have recently commented on the stock. ValuEngine downgraded shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 26th. BidaskClub downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Credit Suisse Group reiterated a “buy” rating on shares of Michaels Companies in a research note on Thursday, August 9th. Deutsche Bank cut their target price on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, August 31st. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $19.00 target price (down from $20.00) on shares of Michaels Companies in a research note on Thursday, August 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.22.

Michaels Companies stock opened at $15.72 on Thursday. Michaels Companies has a one year low of $14.82 and a one year high of $27.87. The company has a debt-to-equity ratio of -1.59, a current ratio of 1.48 and a quick ratio of 0.26. The stock has a market cap of $2.74 billion, a PE ratio of 7.35, a price-to-earnings-growth ratio of 0.88 and a beta of 1.13.

Institutional investors and hedge funds have recently made changes to their positions in the company. WP Advisors LLC bought a new position in Michaels Companies in the second quarter valued at approximately $113,000. Cerebellum GP LLC bought a new position in Michaels Companies in the second quarter valued at approximately $162,000. Itau Unibanco Holding S.A. bought a new position in Michaels Companies in the second quarter valued at approximately $170,000. We Are One Seven LLC bought a new position in Michaels Companies in the third quarter valued at approximately $180,000. Finally, State of Alaska Department of Revenue increased its stake in Michaels Companies by 138.6% in the third quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock valued at $187,000 after acquiring an additional 6,762 shares during the last quarter.

Michaels Companies Company Profile

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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