The Michaels Companies Company Profile (NASDAQ:MIK)

The Michaels Companies trades on the NASDAQ under the ticker symbol "MIK."

The Michaels Companies announced that its Board of Directors has approved a stock repurchase program on Thursday, June 15th 2017, which authorizes the company to buyback $500,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

The Michaels Companies, Inc. (NASDAQ:MIK) issued its earnings results on Thursday, August, 24th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The company earned $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. The Michaels Companies had a net margin of 7.29% and a negative return on equity of 22.53%. The company's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. View The Michaels Companies' Earnings History.

The Michaels Companies is scheduled to release their next quarterly earnings announcement on Monday, December, 4th 2017. View Earnings Estimates for The Michaels Companies.

The Michaels Companies issued an update on its FY18 earnings guidance on Thursday, August, 24th. The company provided EPS guidance of $2.11-2.16 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.08. The Michaels Companies also updated its Q3 guidance to $0.41-0.43 EPS.

8 brokers have issued 1-year price objectives for The Michaels Companies' shares. Their forecasts range from $18.00 to $29.00. On average, they expect The Michaels Companies' share price to reach $24.29 in the next twelve months. View Analyst Ratings for The Michaels Companies.

Here are some recent quotes from research analysts about The Michaels Companies stock:

• 1. According to Zacks Investment Research, "The Michaels Companies, Inc. is a specialty retailer of arts and crafts. The Company's stores offer stock-keeping units in arts, crafts, scrapbooking, floral, framing, home décor, seasonal offerings, and children's hobbies. It produces 11 exclusive private brands including Recollections(R), Studio Decor(R), Bead Landing(R), Creatology(R), Ashland(R), Celebrate It(R), Art Minds(R), Artist's Loft(R), Craft Smart(R), Loops & Threads(R) and Imagin8(R). The Michaels Companies, Inc. is based in Irving, Texas. " (8/25/2017)
• 2. Guggenheim analysts commented, " MIK shares rose just 2% yesterday (S&P 500 fell 0.4%) on the back of betterthan-expected initial 2017 guidance, despite entering the day at a sub-10x P/E multiple. We believe there is a path back to the upper $20's over the next 12-18 months (Exhibit 1), a 30%ish annualized return, and we reiterate our Buy rating as one of our favorite value ideas. We see moderate multiple expansion on modest 2017/2018 EBITDA and EPS growth triggered by the realization that the company has a unique opportunity to drive greater consumer engagement and share gains without sacrificing above-average profit margins over the next five years." (3/8/2017)

Some companies that are related to The Michaels Companies include NEXT plc (NXT), Staples (SPLS), Marks and Spencer Group Plc (MKS), Cabela's (CAB), Stamps.com (STMP), Ollie's Bargain Outlet Holdings (OLLI), Sally Beauty Holdings (SBH), Party City Holdco (PRTY), Rent-A-Center (RCII), West Marine (WMAR), Barnes & Noble Education (BNED), Container Store (The) (TCS), Gaia (GAIA), EVINE Live (EVLV) and Dover Saddlery (DOVR).

The Michaels Companies' management team includes the folowing people:

• Carl S. Rubin, Chairman of the Board, Chief Executive Officer
• Charles M. Sonsteby, Vice Chairman of the Board
• Denise A. Paulonis, Chief Financial Officer, Executive Vice President
• Stephen J. Carlotti, Executive Vice President — Marketing
• Dennis A. Mullahy, Executive Vice President - Supply Chain and Information Technology
• Philo T. Pappas, Executive Vice President - Merchandising
• Joshua Bekenstein, Independent Director
• Monte E. Ford, Independent Director
• Karen Kaplan, Independent Director
• Lewis S. Klessel, Independent Director

The Michaels Companies' stock is owned by a number of of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (4.80%), BlackRock Inc. (4.63%), Alliancebernstein L.P. (3.23%), State Street Corp (3.11%), William Blair Investment Management LLC (2.33%) and Reinhart Partners Inc. (0.86%). Company insiders that own The Michaels Companies stock include Blackstone Management Associat, Carl Rubin, Charles M Sonsteby, Dennis A Mullahy, Joshua Bekenstein, Lewis Klessel, Michael J Veitenheimer, Philo Pappas and Stephen Jon Carlotti. View Institutional Ownership Trends for The Michaels Companies.

The Michaels Companies' stock was sold by a variety of institutional investors in the last quarter, including Ameriprise Financial Inc., American Century Companies Inc., Principal Financial Group Inc., Vanguard Group Inc., Royal Bank of Canada, TIAA CREF Investment Management LLC, Acadian Asset Management LLC and Menta Capital LLC. Company insiders that have sold The Michaels Companies stock in the last year include Blackstone Management Associat, Charles M Sonsteby and Philo Pappas. View Insider Buying and Selling for The Michaels Companies.

The Michaels Companies' stock was acquired by a variety of institutional investors in the last quarter, including Alliancebernstein L.P., State Street Corp, Freestone Capital Holdings LLC, BlackRock Inc., Sapience Investments LLC, OxFORD Asset Management LLP, Prudential Financial Inc. and Wells Fargo & Company MN. View Insider Buying and Selling for The Michaels Companies.

Shares of The Michaels Companies can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of The Michaels Companies stock can currently be purchased for approximately $21.24.