Michaels Companies Inc (NASDAQ:MIK) – Stock analysts at Piper Jaffray Companies dropped their Q4 2020 earnings per share (EPS) estimates for Michaels Companies in a research note issued on Thursday, December 5th. Piper Jaffray Companies analyst P. Keith now anticipates that the specialty retailer will post earnings per share of $1.24 for the quarter, down from their prior forecast of $1.40. Piper Jaffray Companies also issued estimates for Michaels Companies’ Q2 2021 earnings at $0.16 EPS, Q4 2021 earnings at $1.29 EPS, Q1 2022 earnings at $0.32 EPS, Q2 2022 earnings at $0.15 EPS and Q3 2022 earnings at $0.42 EPS.
A number of other analysts have also weighed in on the stock. Telsey Advisory Group dropped their target price on shares of Michaels Companies from $10.00 to $7.00 and set a “market perform” rating for the company in a report on Friday. Morgan Stanley set a $7.00 price objective on Michaels Companies and gave the stock a “hold” rating in a report on Monday, September 9th. ValuEngine cut Michaels Companies from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Loop Capital reiterated a “buy” rating and issued a $10.00 price objective on shares of Michaels Companies in a research report on Friday. Finally, BidaskClub downgraded Michaels Companies from a “sell” rating to a “strong sell” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.00.
Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.09). The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.26 billion. Michaels Companies had a net margin of 5.30% and a negative return on equity of 22.75%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of MIK. Millennium Management LLC purchased a new position in shares of Michaels Companies during the 3rd quarter worth approximately $1,318,000. Zebra Capital Management LLC boosted its position in shares of Michaels Companies by 37.1% during the third quarter. Zebra Capital Management LLC now owns 148,293 shares of the specialty retailer’s stock valued at $1,452,000 after purchasing an additional 40,103 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Michaels Companies by 2.9% during the third quarter. Public Employees Retirement System of Ohio now owns 112,596 shares of the specialty retailer’s stock valued at $1,102,000 after purchasing an additional 3,224 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Michaels Companies by 1,534.5% in the third quarter. Point72 Asset Management L.P. now owns 97,106 shares of the specialty retailer’s stock worth $951,000 after purchasing an additional 91,165 shares during the period. Finally, California State Teachers Retirement System grew its stake in Michaels Companies by 2.4% in the third quarter. California State Teachers Retirement System now owns 134,695 shares of the specialty retailer’s stock worth $1,319,000 after purchasing an additional 3,133 shares during the period.
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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