Michaels Companies (MIK) Updates FY 2018 Earnings Guidance

Michaels Companies (NASDAQ:MIK) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided EPS guidance of $2.35-2.39 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.35. The company issued revenue guidance of $5.261-5.278 billion, compared to the consensus revenue estimate of $5.26 billion.Michaels Companies also updated its Q4 guidance to $1.42-1.47 EPS.

Shares of MIK stock traded down $0.44 on Thursday, reaching $15.98. 112,277 shares of the stock were exchanged, compared to its average volume of 2,031,083. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.91 and a beta of 1.04. Michaels Companies has a 1-year low of $14.82 and a 1-year high of $27.87.

Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Thursday, December 6th. The specialty retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Michaels Companies had a negative return on equity of 24.56% and a net margin of 6.31%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. As a group, equities analysts forecast that Michaels Companies will post 2.35 earnings per share for the current year.

MIK has been the subject of a number of research analyst reports. Credit Suisse Group restated a buy rating on shares of Michaels Companies in a report on Thursday, August 9th. BidaskClub downgraded Michaels Companies from a buy rating to a hold rating in a report on Wednesday, August 29th. Loop Capital set a $18.00 price objective on Michaels Companies and gave the stock a hold rating in a report on Thursday. Zacks Investment Research downgraded 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Hold and an average price target of $21.89.

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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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