Michaels Companies (MIK) Issues Q4 2018 Earnings Guidance

Michaels Companies (NASDAQ:MIK) issued an update on its fourth quarter 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.42-1.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.41. Michaels Companies also updated its FY 2018 guidance to $2.35-2.39 EPS.

Michaels Companies stock opened at $15.65 on Friday. Michaels Companies has a 52-week low of $14.82 and a 52-week high of $27.87. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 7.38, a P/E/G ratio of 0.90 and a beta of 1.04.

Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Thursday, December 6th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Michaels Companies will post 2.37 EPS for the current fiscal year.

MIK has been the subject of several recent analyst reports. BidaskClub lowered Michaels Companies from a strong-buy rating to a buy rating in a research note on Saturday. 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 report on Thursday. Loop Capital set a $18.00 target price on Michaels Companies and gave the stock a hold rating in a report on Thursday. Zacks Investment Research cut Michaels Companies from a buy rating to a hold rating in a report on Tuesday, September 4th. Finally, ValuEngine upgraded Michaels Companies from a strong sell rating to a sell rating in a report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $21.67.

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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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