In last trading session, The Michaels Companies, Inc. (NASDAQ:MIK) saw 5,141,916 shares changing hands with its beta currently measuring 3.2. Company’s recent per share price level of $10.7 trading at -$0.04 or -0.42% at ring of the bell on the day assigns it a market valuation of $1.58 Billion. That closing price of MIK’s stock is at a discount of -9.35% from its 52-week high price of $11.7 and is indicating a premium of 90.65% from its 52-week low price of $1. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.77 Million shares which gives us an average trading volume of 4.65 Million if we extend that period to 3-months.
For The Michaels Companies, Inc. (MIK), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 2.9. Splitting up the data highlights that, out of 9 analysts covering the stock, 2 rated the stock as a Sell while none recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 3 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.59 in the current quarter.
The Michaels Companies, Inc. (NASDAQ:MIK) trade information
In the face of being in the red today for losing -0.42%, in the last five days MIK remained trading in the green while hitting it’s week-highest on Wednesday, Oct 14 when the stock touched $11.08- price level, adding 3.43% to its value on the day. The Michaels Companies, Inc.’s shares saw a change of 32.26% in year-to-date performance and have moved 4.49% in past 5-day. The Michaels Companies, Inc. (NASDAQ:MIK) showed a performance of 7.75% in past 30-days. Number of shares sold short was 36.36 Million shares which calculate 7.82 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $11.78 to the stock, which implies a rise of 10.09% to its current value. Analysts have been projecting $3.5 as a low price target for the stock while placing it at a high target of $25. It follows that stock’s current price would jump +133.64% in reaching the projected high whereas dropping to the targeted low would mean a loss of -67.29% for stock’s current value.
The Michaels Companies, Inc. (MIK) estimates and forecasts
Statistics highlight that The Michaels Companies, Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added +342.15% of value to its shares in past 6 months, showing an annual growth rate of -18.01% while that of industry is -6.2. Apart from that, the company came raising its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to increase by 47.5% in the current quarter and calculating 3.2% increase in the next quarter. This year revenue growth is estimated to rise 1.7% from the last financial year’s standing.
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.39 Billion for the same. And 8 analysts are in estimates of company making revenue of $1.82 Billion in the next quarter that will end in January 01, 2021. Company posted $1.22 Billion and $1.72 Billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 13.8% while estimating it to be 5.5% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 11.1% during past 5 years. In 2020, company’s earnings growth rate is likely to be around -4.8% while estimates for its earnings growth in next 5 years are of 0%
The Michaels Companies, Inc. (NASDAQ:MIK)’s Major holders
Insiders are in possession of 0.47% of company’s total shares while institution are holding 117.4% percent of that, with stock having share float percentage of 117.96%. Investors also watch the number of corporate investors in a company very closely, which is 280 institutions for The Michaels Companies, Inc. that are currently holding shares of the company. Bain Capital Investors, LLC is the top institutional holder at MIK for having 52.8 Million shares of worth $373.29 Million. And as of June 29, 2020, it was holding 35.81% of the company’s outstanding shares.
The second largest institutional holder is Blackstone Group Inc., which was holding about 20.39 Million shares on June 29, 2020. The number of shares represents firm’s hold over 13.83% of outstanding shares, having a total worth of $144.18 Million.
On the other hand, iShares Core S&P Smallcap ETF and Fidelity Value Fund are the top two Mutual Funds which own company’s shares. As of August 30, 2020, the former fund manager was holding 4804807 shares of worth $54.05 Million or 3.26% of the total outstanding shares. The later fund manager was in possession of 3.18 Million shares on July 30, 2020, making its stake of worth around $22.84 Million in the company or a holder of 2.16% of company’s stock.