Michaels Companies Inc (NASDAQ:MIK) has received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.83.
Several equities analysts recently weighed in on MIK shares. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. ValuEngine lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Michaels Companies from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Deutsche Bank lowered shares of Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Tuesday, December 12th. Finally, Piper Jaffray Companies lowered shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a research report on Friday, October 27th.
Shares of Michaels Companies (NASDAQ:MIK) traded up $0.28 during mid-day trading on Friday, hitting $24.78. 1,969,300 shares of the stock traded hands, compared to its average volume of 1,681,838. The stock has a market capitalization of $4,490.00, a P/E ratio of 12.58, a P/E/G ratio of 1.10 and a beta of 0.92. The company has a debt-to-equity ratio of -1.56, a quick ratio of 0.25 and a current ratio of 1.39. Michaels Companies has a 52 week low of $17.25 and a 52 week high of $25.00.
Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.26 billion. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. equities research analysts predict that Michaels Companies will post 2.16 earnings per share for the current year.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Michaels Companies by 7.1% in the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock valued at $162,099,000 after acquiring an additional 583,585 shares during the period. State Street Corp boosted its position in shares of Michaels Companies by 15.5% in the second quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock valued at $108,763,000 after acquiring an additional 787,225 shares during the period. Bank of New York Mellon Corp raised its stake in Michaels Companies by 18.9% in the third quarter. Bank of New York Mellon Corp now owns 1,536,451 shares of the specialty retailer’s stock valued at $32,988,000 after purchasing an additional 244,344 shares in the last quarter. Sapience Investments LLC raised its stake in Michaels Companies by 70.9% in the second quarter. Sapience Investments LLC now owns 1,171,775 shares of the specialty retailer’s stock valued at $21,701,000 after purchasing an additional 486,295 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Michaels Companies by 41.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,131,075 shares of the specialty retailer’s stock valued at $24,288,000 after purchasing an additional 330,115 shares in the last quarter.
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Michaels Companies Company Profile
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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