Michaels Companies Inc (NASDAQ:MIK) – Analysts at Piper Jaffray Companies dropped their Q4 2020 earnings per share estimates for Michaels Companies in a research note issued to investors on Thursday, December 5th, according to Zacks Investment Research. Piper Jaffray Companies analyst P. Keith now forecasts that the specialty retailer will post earnings per share of $1.24 for the quarter, down from their prior estimate 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 research analysts have also weighed in on MIK. Morgan Stanley lowered shares of Michaels Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $7.00 to $5.00 in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their target price on shares of Michaels Companies from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Stephens lowered shares of Michaels Companies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $9.00 to $7.00 in a research report on Friday, December 6th. BidaskClub lowered shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a research report on Friday, December 6th. Finally, ValuEngine lowered shares of Michaels Companies from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Michaels Companies currently has an average rating of “Hold” and an average price target of $7.83.
Shares of MIK stock traded up $0.61 on Monday, hitting $8.09. The company’s stock had a trading volume of 8,468,549 shares, compared to its average volume of 6,177,344. Michaels Companies has a fifty-two week low of $4.96 and a fifty-two week high of $16.39. The firm’s fifty day moving average price is $7.39 and its 200-day moving average price is $7.96. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 3.44, a P/E/G ratio of 0.56 and a beta of 1.04.
Michaels Companies (NASDAQ:MIK) last issued its earnings results on Thursday, December 5th. The specialty retailer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.09). The company had revenue of $1.22 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS.
Several hedge funds have recently made changes to their positions in MIK. FMR LLC lifted its holdings in Michaels Companies by 29.9% in the first quarter. FMR LLC now owns 2,699,700 shares of the specialty retailer’s stock valued at $30,831,000 after buying an additional 620,679 shares during the period. SG Americas Securities LLC increased its stake in Michaels Companies by 33.1% in the second quarter. SG Americas Securities LLC now owns 42,532 shares of the specialty retailer’s stock valued at $370,000 after purchasing an additional 10,581 shares in the last quarter. First Trust Advisors LP increased its stake in Michaels Companies by 21.9% in the second quarter. First Trust Advisors LP now owns 345,676 shares of the specialty retailer’s stock valued at $3,007,000 after purchasing an additional 62,039 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Michaels Companies by 2.9% during the second quarter. TD Asset Management Inc. now owns 237,600 shares of the specialty retailer’s stock worth $2,067,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Michaels Companies during the second quarter worth $132,000.
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.
