Wall Street brokerages forecast that Michaels Companies Inc (NASDAQ:MIK) will post $1.87 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Michaels Companies’ earnings, with estimates ranging from $1.85 billion to $1.89 billion. Michaels Companies posted sales of $1.75 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The company is scheduled to announce its next earnings report on Tuesday, March 6th.
On average, analysts expect that Michaels Companies will report full-year sales of $1.87 billion for the current financial year, with estimates ranging from $5.34 billion to $5.39 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.36 billion per share, with estimates ranging from $5.30 billion to $5.41 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Michaels Companies.
Michaels Companies (NASDAQ:MIK) last released its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $0.40 EPS. The company’s revenue was up 1.1% compared to the same quarter last year.
In related news, CEO Carl Rubin sold 220,930 shares of Michaels Companies stock in a transaction on Friday, January 26th. The shares were sold at an average price of $27.15, for a total value of $5,998,249.50. Following the completion of the sale, the chief executive officer now owns 444,796 shares of the company’s stock, valued at approximately $12,076,211.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MIK. Parametric Portfolio Associates LLC lifted its stake in Michaels Companies by 966.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 572,700 shares of the specialty retailer’s stock valued at $12,296,000 after acquiring an additional 518,984 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Michaels Companies by 386.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 98,300 shares of the specialty retailer’s stock valued at $2,111,000 after acquiring an additional 78,100 shares in the last quarter. Stevens Capital Management LP bought a new position in Michaels Companies during the 3rd quarter valued at $3,625,000. California Public Employees Retirement System lifted its stake in Michaels Companies by 36.2% during the 3rd quarter. California Public Employees Retirement System now owns 135,090 shares of the specialty retailer’s stock valued at $2,900,000 after acquiring an additional 35,890 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Michaels Companies by 22.6% during the 2nd quarter. California State Teachers Retirement System now owns 207,723 shares of the specialty retailer’s stock valued at $3,847,000 after acquiring an additional 38,317 shares in the last quarter.
Shares of Michaels Companies (MIK) opened at $24.61 on Monday. The company has a market cap of $4,460.54, a P/E ratio of 12.56, a PEG ratio of 0.80 and a beta of 0.99. Michaels Companies has a 52-week low of $17.25 and a 52-week high of $27.87. The company has a current ratio of 1.39, a quick ratio of 0.25 and a debt-to-equity ratio of -1.56.
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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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