Michaels Companies (MIK) Releases FY19 Earnings Guidance
Michaels Companies (NASDAQ:MIK) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.19-2.32 for the period, compared to the Thomson Reuters consensus estimate of $2.59. The company issued revenue guidance of $5.22-5.29 billion, compared to the consensus revenue estimate of $5.37 billion.Michaels Companies also updated its Q1 guidance to $0.36-0.38 EPS.
A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Michaels Companies from a hold rating to a sell rating in a report on Thursday. Zacks Investment Research cut shares of Michaels Companies from a buy rating to a hold rating in a report on Wednesday. Deutsche Bank upped their price target on shares of Michaels Companies from $24.00 to $25.00 and gave the company a buy rating in a report on Monday. Piper Jaffray Companies restated a sell rating and set a $18.00 price target on shares of Michaels Companies in a report on Tuesday, March 6th. Finally, ValuEngine cut shares of Michaels Companies from a buy rating to a hold rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $25.89.
Shares of Michaels Companies stock opened at $19.15 on Thursday. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. Michaels Companies has a one year low of $17.25 and a one year high of $27.87. The firm has a market cap of $3,840.66, a PE ratio of 10.81, a P/E/G ratio of 0.68 and a beta of 1.14.
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About Michaels Companies
The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.
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