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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Michaels Companies had a net margin of 6.31% and a negative return on equity of 24.56%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.19 EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year.

Several equities analysts recently commented on the stock. ValuEngine lowered shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a report on Sunday, August 26th. Telsey Advisory Group reduced their target price on shares of Michaels Companies from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, June 15th. JPMorgan Chase & Co. reaffirmed a “focus list” rating on shares of Michaels Companies in a report on Thursday, June 21st. Wells Fargo & Co reaffirmed a “hold” rating and set a $19.00 target price (down previously from $20.00) on shares of Michaels Companies in a report on Thursday, August 30th. Finally, Deutsche Bank reduced 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, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Michaels Companies presently has an average rating of “Hold” and a consensus target price of $22.22.

Shares of MIK stock traded up $0.56 on Monday, hitting $16.09. 3,217,355 shares of the company’s stock traded hands, compared to its average volume of 2,365,172. The company has a debt-to-equity ratio of -1.59, a quick ratio of 0.26 and a current ratio of 1.48. Michaels Companies has a one year low of $14.82 and a one year high of $27.87. The firm has a market cap of $2.78 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.90 and a beta of 1.13.

A number of institutional investors and hedge funds have recently made changes to their positions in MIK. WP Advisors LLC purchased a new stake in Michaels Companies during the 2nd quarter valued at $113,000. Cerebellum GP LLC purchased a new stake in Michaels Companies during the 2nd quarter valued at $162,000. Itau Unibanco Holding S.A. purchased a new stake in Michaels Companies during the 2nd quarter valued at $170,000. We Are One Seven LLC purchased a new stake in Michaels Companies during the 3rd quarter valued at $180,000. Finally, State of Alaska Department of Revenue boosted its position in Michaels Companies by 138.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,642 shares of the specialty retailer’s stock valued at $187,000 after buying an additional 6,762 shares during the period.

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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