The Michaels Companies Announces First Quarter 2018 Results
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Stephens Reiterates Overweight on Michaels Cos. (MIK) Following 1Q
June 15, 2018 7:16 AM EDTStephens reiterated an Overweight rating and $26.00 price target on The Michaels Companies (NASDAQ: MIK) following the company's 1Q earnings report. 1Q EPS of $0.39 beat consensus of $0.38 and the guidance range of $0.36 to $0.38. SSS increased +0.4% versus consensus +0.7%.
Guidance for F18 was unchanged at $2.19 -... More
Michaels Cos. (MIK) Tops Q1 EPS by 1c, Reaffirms FY18 Guidance
June 14, 2018 7:01 AM EDTMichaels Cos. (NASDAQ: MIK) reported Q1 EPS of $0.39, $0.01 better than the analyst estimate of $0.38. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.15 billion.
Second Quarter and Fiscal Year 2018 Outlook:
During the first quarter of fiscal 2018, the Company executed two interest rate swaps with an aggregate notional value of $1.0 billion associated with its outstanding Amended Term Loan Credit Facility to hedge the variability of cash flows resulting from fluctuations in the one-month LIBOR rate. The swaps replaced the one-month LIBOR rate with a fixed interest rate of 2.7765% and... More
