Analysts expect Michaels Companies Inc (NASDAQ:MIK) to post earnings of $1.21 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Michaels Companies’ earnings, with the lowest EPS estimate coming in at $1.17 and the highest estimate coming in at $1.25. Michaels Companies reported earnings of $0.96 per share during the same quarter last year, which indicates a positive year over year growth rate of 26%. The firm is expected to issue its next quarterly earnings report on Tuesday, March 6th.
According to Zacks, analysts expect that Michaels Companies will report full year earnings of $2.18 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.24. For the next fiscal year, analysts anticipate that the company will report earnings of $2.63 per share, with EPS estimates ranging from $2.32 to $2.83. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Michaels Companies.
Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year.
In other news, CEO Carl Rubin sold 220,930 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $27.15, for a total transaction of $5,998,249.50. Following the transaction, the chief executive officer now directly owns 444,796 shares of the company’s stock, valued at $12,076,211.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Michaels Companies by 0.9% during the fourth quarter. BlackRock Inc. now owns 9,089,170 shares of the specialty retailer’s stock worth $219,865,000 after acquiring an additional 79,208 shares during the period. Alliancebernstein L.P. increased its position in shares of Michaels Companies by 0.8% during the fourth quarter. Alliancebernstein L.P. now owns 5,913,787 shares of the specialty retailer’s stock worth $143,055,000 after acquiring an additional 46,619 shares during the period. William Blair Investment Management LLC increased its position in shares of Michaels Companies by 10.0% during the fourth quarter. William Blair Investment Management LLC now owns 5,705,741 shares of the specialty retailer’s stock worth $138,022,000 after acquiring an additional 520,881 shares during the period. Old Mutual Global Investors UK Ltd. increased its position in shares of Michaels Companies by 1,714.8% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 2,316,399 shares of the specialty retailer’s stock worth $56,033,000 after acquiring an additional 2,188,757 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Michaels Companies by 18.9% during the third quarter. Bank of New York Mellon Corp now owns 1,536,451 shares of the specialty retailer’s stock worth $32,988,000 after acquiring an additional 244,344 shares during the period.
Shares of Michaels Companies (NASDAQ MIK) traded down $0.40 during trading hours on Friday, hitting $24.21. 1,615,300 shares of the company were exchanged, compared to its average volume of 1,679,420. The company has a current ratio of 1.39, a quick ratio of 0.25 and a debt-to-equity ratio of -1.56. Michaels Companies has a 1 year low of $17.25 and a 1 year high of $27.87. The company has a market cap of $4,460.53, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 0.80 and a beta of 0.99.
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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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