Michaels closed at $15.50 in the latest trading session, marking a +0.32% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.93%. At the same time, the Dow lost 2.03%, and the tech-heavy Nasdaq lost 2%.
Prior to today's trading, shares of the arts and crafts store operator had gained 30.36% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.07% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from MIK as it approaches its next earnings release. On that day, MIK is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 15.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.82 billion, up 5.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.22 per share and revenue of $5.18 billion, which would represent changes of +5.21% and +2.1%, respectively, from the prior year.
Any recent changes to analyst estimates for MIK should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MIK is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, MIK currently has a Forward P/E ratio of 7.42. For comparison, its industry has an average Forward P/E of 12.22, which means MIK is trading at a discount to the group.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Michaels (MIK) Gains As Market Dips: What You Should Know
Michaels closed at $15.50 in the latest trading session, marking a +0.32% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.93%. At the same time, the Dow lost 2.03%, and the tech-heavy Nasdaq lost 2%.
Prior to today's trading, shares of the arts and crafts store operator had gained 30.36% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.07% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from MIK as it approaches its next earnings release. On that day, MIK is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 15.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.82 billion, up 5.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.22 per share and revenue of $5.18 billion, which would represent changes of +5.21% and +2.1%, respectively, from the prior year.
Any recent changes to analyst estimates for MIK should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MIK is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, MIK currently has a Forward P/E ratio of 7.42. For comparison, its industry has an average Forward P/E of 12.22, which means MIK is trading at a discount to the group.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.