Michaels Companies (NASDAQ:MIK) Updates FY20 Earnings Guidance

Michaels Companies (NASDAQ:MIK) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.31-2.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.34. The company issued revenue guidance of $5.16-5.19 billion, compared to the consensus revenue estimate of $5.19 billion.Michaels Companies also updated its FY 2019 guidance to $2.31-2.42 EPS.

MIK has been the subject of a number of recent analyst reports. Credit Suisse Group lowered shares of Michaels Companies from an outperform rating to a neutral rating and decreased their price objective for the stock from $18.00 to $11.00 in a report on Friday, June 7th. Deutsche Bank decreased their price objective on shares of Michaels Companies from $16.00 to $9.00 and set a hold rating for the company in a report 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 report on Friday, July 12th. Goldman Sachs Group initiated coverage on shares of Michaels Companies in a report on Thursday, July 11th. They set a neutral rating and a $8.00 price objective for the company. Finally, BidaskClub lowered shares of Michaels Companies from a sell rating to a strong sell rating in a report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $10.64.

Shares of NASDAQ:MIK opened at $6.61 on Wednesday. The company has a market cap of $896.83 million, a PE ratio of 3.01, a P/E/G ratio of 0.43 and a beta of 1.06. The company’s 50-day moving average price is $6.36 and its 200 day moving average price is $9.81. Michaels Companies has a fifty-two week low of $4.96 and a fifty-two week high of $18.04.

Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, June 6th. The specialty retailer reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Michaels Companies had a net margin of 6.34% and a negative return on equity of 22.82%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. As a group, sell-side analysts anticipate that Michaels Companies will post 2.34 EPS for the current fiscal year.

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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Earnings History and Estimates for Michaels Companies (NASDAQ:MIK)

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