Michaels Companies (MIK) Updates Q4 2018 Earnings Guidance

Michaels Companies (NASDAQ:MIK) updated its fourth quarter 2018 earnings guidance on Thursday. 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.

Several research analysts have issued reports on the company. ValuEngine cut Michaels Companies from a sell rating to a strong sell rating in a research report on Sunday, August 26th. BidaskClub upgraded Michaels Companies from a buy rating to a strong-buy rating in a research report on Wednesday, November 7th. Wells Fargo & Co reiterated a hold rating and issued a $19.00 price objective (down previously from $20.00) on shares of Michaels Companies in a research report on Thursday, August 30th. Deutsche Bank cut their price objective on Michaels Companies from $21.00 to $19.00 and set a hold rating for the company in a research report on Friday, August 31st. Finally, Morgan Stanley cut their price objective on Michaels Companies from $23.00 to $20.00 and set an overweight rating for the company in a research report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $22.22.

Shares of MIK stock opened at $16.42 on Thursday. Michaels Companies has a fifty-two week low of $14.82 and a fifty-two week high of $27.87. The firm has a market capitalization of $2.81 billion, a PE ratio of 7.57, a PEG ratio of 0.91 and a beta of 1.04.

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

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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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