The Michaels Companies (MIK) Receiving Somewhat Positive Press Coverage, Report Finds
News coverage about The Michaels Companies (NASDAQ:MIK) has been trending somewhat positive this week, Accern Sentiment reports. Accern ranks the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. The Michaels Companies earned a news impact score of 0.16 on Accern’s scale. Accern also assigned news articles about the specialty retailer an impact score of 45.6597320904645 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Next Group Holdings, Inc. President/COO Michael De Prado Addresses Company’s Entry Into Virtual Banking (prnewswire.com)
- The Michaels Companies to Report Second Quarter Earnings on August 24, 2017 (finance.yahoo.com)
- Investor Update: Company Share Focus for The Michaels Companies, Inc. (NASDAQ:MIK) – Jonesboro Recorder (jonesbororecorder.com)
- The Rev. Michael Crosby dead at 77 after decades fighting for corporate responsibility (jsonline.com)
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of The Michaels Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub raised shares of The Michaels Companies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co raised shares of The Michaels Companies from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Monday, July 24th. TheStreet raised shares of The Michaels Companies from a “d+” rating to a “c” rating in a research report on Monday, June 26th. Finally, Guggenheim reissued a “buy” rating and set a $26.00 price target on shares of The Michaels Companies in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The Michaels Companies has a consensus rating of “Hold” and an average target price of $25.25.
Shares of The Michaels Companies (MIK) opened at 20.04 on Friday. The Michaels Companies has a 52-week low of $17.25 and a 52-week high of $26.30. The stock’s 50 day moving average is $19.02 and its 200 day moving average is $20.54. The firm has a market capitalization of $3.78 billion, a PE ratio of 10.71 and a beta of 0.96.
The Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Tuesday, June 6th. The specialty retailer reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.01. The Michaels Companies had a net margin of 7.30% and a negative return on equity of 22.75%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts forecast that The Michaels Companies will post $2.08 EPS for the current year.
The Michaels Companies announced that its board has approved a share buyback plan on Thursday, June 15th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
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About The 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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