Equities research analysts expect Michaels Companies Inc (NASDAQ:MIK) to announce $1.80 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Michaels Companies’ earnings, with the highest sales estimate coming in at $1.83 billion and the lowest estimate coming in at $1.78 billion. Michaels Companies reported sales of $1.89 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The company is scheduled to announce its next earnings report on Thursday, March 28th.

On average, analysts expect that Michaels Companies will report full-year sales of $5.29 billion for the current fiscal year, with estimates ranging from $5.27 billion to $5.37 billion. For the next financial year, analysts expect that the company will post sales of $5.35 billion, with estimates ranging from $5.29 billion to $5.39 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Michaels Companies.

Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, December 6th. The specialty retailer reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Michaels Companies had a negative return on equity of 24.35% and a net margin of 6.35%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the company earned $0.44 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis.

Several equities analysts recently commented on MIK shares. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded Michaels Companies from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 26th. Wells Fargo & Co restated a “hold” rating and set a $17.00 target price (down previously from $19.00) on shares of Michaels Companies in a research report on Thursday, December 6th. BidaskClub upgraded Michaels Companies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 7th. Finally, Deutsche Bank cut their target price on Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, August 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Michaels Companies has a consensus rating of “Hold” and an average target price of $20.11.

Shares of MIK stock traded up $0.04 during mid-day trading on Tuesday, reaching $14.08. The stock had a trading volume of 160,920 shares, compared to its average volume of 2,435,260. Michaels Companies has a one year low of $13.85 and a one year high of $27.87. The company has a market capitalization of $2.32 billion, a P/E ratio of 6.49, a P/E/G ratio of 0.81 and a beta of 1.04.

A number of hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC increased its stake 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 valued at $1,838,000 after buying an additional 4,180 shares during the period. Hsbc Holdings PLC increased its stake 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 valued at $825,000 after buying an additional 4,514 shares during the period. D.A. Davidson & CO. increased its stake 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 valued at $342,000 after buying an additional 4,537 shares during the period. BNP Paribas Arbitrage SA increased its stake 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 valued at $416,000 after buying an additional 4,563 shares during the period. Finally, Putnam FL Investment Management Co. increased its stake in shares of Michaels Companies by 2.0% in the 3rd quarter. Putnam FL Investment Management Co. now owns 257,956 shares of the specialty retailer’s stock valued at $4,187,000 after buying an additional 5,074 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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