The Michaels Companies, Inc. (NASDAQ:MIK) has a beta value of 3 and has seen 1,666,485 shares traded in the recent trading session. The company, currently valued at $1.44 Billion, closed the recent trade at $9.77 per share which meant it lost -$0.56 on the day or -5.42% during that session. The MIK stock price is -19.75% off its 52-week high price of $11.7 and 89.76% above the 52-week low of $1. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.11 Million shares traded. The 3-month trading volume is 4.26 Million shares.
The consensus among analysts is that The Michaels Companies, Inc. (MIK) is a Hold stock at the moment, with a recommendation rating of 3.1. 2 analysts rate the stock as a Sell, while none rate it as Overweight. 3 out of 10 have rated it as a Hold, with 4 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.54.
The Michaels Companies, Inc. (NASDAQ:MIK) trade information
Despite being -5.42% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Sep 11 when the MIK stock price touched $10.86- or saw a rise of 8.98%. Year-to-date, The Michaels Companies, Inc. shares have moved 22.19%, while the 5-day performance has seen it change -5.23%. Over the past 30 days, the shares of The Michaels Companies, Inc. (NASDAQ:MIK) have changed 18.24%. Short interest in the company has seen 27.03 Million shares shorted with days to cover at 6.35.
Wall Street analysts have a consensus price target for the stock at $10.69, which means that the shares’ value could jump 9.42% from current levels. The projected low price target is $3.5 while the price target rests at a high of $20. In that case, then, we find that the current price level is +104.71% off the targeted high while a plunge would see the stock lose -64.18% from current levels.
The Michaels Companies, Inc. (MIK) estimates and forecasts
Figures show that The Michaels Companies, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +288.35% over the past 6 months, with this year growth rate of -20.38%, compared to -8.5% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 35% and 2.4% for the next quarter. Revenue growth from the last financial year stood is estimated to be +0.7%.
8 analysts offering their estimates for the company have set an average revenue estimate of $1.36 Billion for the current quarter. 8 have an estimated revenue figure of $1.8 Billion for the next quarter concluding in January 01, 2021. Year-ago sales stood $1.22 Billion and $1.72 Billion respectively for this quarter and the next, and analysts expect sales will grow by 10.9% for the current quarter and 4.7% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +11.1% over the past 5 years. Earnings growth for 2020 is a modest -4.8%.
The Michaels Companies, Inc. (NASDAQ:MIK)’s Major holders
Insiders own 0.47% of the company shares, while shares held by institutions stand at 117.4% with a share float percentage of 117.96%. Investors are also buoyed by the number of investors in a company, with The Michaels Companies, Inc. having a total of 280 institutions that hold shares in the company. The top two institutional holders are Bain Capital Investors, LLC with over 52.8 Million shares worth more than $373.29 Million. As of June 29, 2020, Bain Capital Investors, LLC held 35.81% of shares outstanding.
The other major institutional holder is Blackstone Group Inc., with the holding of over 20.39 Million shares as of June 29, 2020. The firm’s total holdings are worth over $144.18 Million and represent 13.83% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Fidelity Value Fund. As of June 29, 2020, the former fund manager holds about 3.23% shares in the company for having 4765012 shares of worth $33.69 Million while later fund manager owns 3.53 Million shares of worth $24.95 Million as of June 29, 2020, which makes it owner of about 2.39% of company’s outstanding stock.