Michaels Companies (NASDAQ:MIK) announced its earnings results on Wednesday. The specialty retailer reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.05, Briefing.com reports. Michaels Companies had a net margin of 6.31% and a negative return on equity of 23.11%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.15 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year.
Michaels Companies stock opened at $7.76 on Friday. The firm has a 50-day moving average of $6.25 and a 200-day moving average of $9.71. Michaels Companies has a one year low of $4.96 and a one year high of $18.04. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 2.95, a P/E/G ratio of 0.54 and a beta of 1.06.
A number of research firms have recently commented on MIK. Zacks Investment Research downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Morgan Stanley set a $9.00 price objective on shares of Michaels Companies and gave the stock a “hold” rating in a research note on Monday, June 17th. Deutsche Bank reduced their price objective on shares of Michaels Companies from $16.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, June 7th. Loop Capital set a $15.00 price objective on shares of Michaels Companies and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Michaels Companies from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.91.
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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