The Michaels Companies, Inc. (NASDAQ:MIK) specialty retailer, is expected to report second quarter earnings results, before market open, on Thursday 3rd September 2020.
Analysts polled by Thomson Reuters anticipate second quarter loss of $ 0.09 per share.
Looking ahead, the full year income are expected at $ 1.01 per share on the revenues of $ 4835.10 million.
Previous Quarter Performance
The Michaels Companies, Inc. disclosed loss for the first quarter of $ 0.43 per share, from the revenue of $ 799.89 million. Wall street analysts are predicting, MIK to report 1Q20 income of $ 0.13 per share from revenue of $ 1014.99 million. The bottom line results missed street analysts by $ 0.56 or 430.77 percent, at the same time, top line results fell short of analysts by $ 215.1 million or 21.19 percent.
Stock Performance
Shares of The Michaels Companies, Inc. traded low $ -0.41 or -3.52 percent on Wednesday, reaching $ 11.10 with volume of 5.32 million shares. The stock opened positive for the day at $ 11.61, after closing the previous day trading at $ 11.50.
According to the previous trading day, closing price of $ 11.50, representing a 1,050.00 % increase from the 52 week low of $ 1.00 and a 1.71 % decrease over the 52 week high of $ 11.70.
The company has a market capital of $ 1.63 billion and is part of the Consumer Cyclical sector and Specialty Retail industry.
Recent Analyst recommendations
- On 2nd September 2020, maintained by Credit Suisse Group at Neutral rating, with $ 13.00 target price.
Conference Call
The Michaels Companies, Inc. will be hosting a conference call at 9:00 AM eastern time on 3rd September 2020, to discuss its 2Q20 financial results with the investment community. The participants may dial, (844) 340-4762 U.S. or (412) 717-9617 Outside U.S. in order to access the live audio call. A live webcast with presentations will be available on the Internet by visiting the Company website dpregister.com/DiamondPassRegistration/register?linkSecurityString=78449&confirmationNumber=
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.
