Michaels Companies (NASDAQ:MIK) posted its quarterly earnings results on Tuesday. The specialty retailer reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.02, MarketWatch Earnings reports. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. Michaels Companies had a negative return on equity of 24.35% and a net margin of 6.35%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 EPS.
MIK opened at $11.79 on Tuesday. The firm has a market capitalization of $1.84 billion, a P/E ratio of 5.43, a PEG ratio of 0.53 and a beta of 1.14. Michaels Companies has a 1 year low of $11.44 and a 1 year high of $22.15.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. BidaskClub downgraded Michaels Companies from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Loop Capital set a $18.00 target price on Michaels Companies and gave the stock a “hold” rating in a research note on Thursday, December 6th. Wells Fargo & Co reiterated a “hold” rating and set a $17.00 target price (down from $19.00) on shares of Michaels Companies in a research note on Thursday, December 6th. Finally, Citigroup assumed coverage on Michaels Companies in a research note on Thursday, December 20th. They set a “market weight” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.27.
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Michaels Companies Company Profile
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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