Analysts Anticipate Pier 1 Imports, Inc. (PIR) Will Post Earnings of -$0.06 Per Share
Brokerages expect Pier 1 Imports, Inc. (NYSE:PIR) to announce ($0.06) earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Pier 1 Imports’ earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.07). Pier 1 Imports posted earnings of ($0.05) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 20%. The business is scheduled to issue its next earnings results on Wednesday, September 27th.
According to Zacks, analysts expect that Pier 1 Imports will report full-year earnings of $0.48 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.50. For the next fiscal year, analysts forecast that the company will report earnings of $0.50 per share, with EPS estimates ranging from $0.42 to $0.67. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings data on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $409.50 million for the quarter, compared to analysts’ expectations of $420.80 million. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share.
Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Pier 1 Imports from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Friday, June 30th. Deutsche Bank AG reduced their price target on shares of Pier 1 Imports from $6.25 to $5.00 and set a “sell” rating for the company in a report on Wednesday, May 31st. Gordon Haskett assumed coverage on shares of Pier 1 Imports in a report on Tuesday, May 9th. They issued a “reduce” rating and a $6.00 price target for the company. Johnson Rice lowered shares of Pier 1 Imports from an “accumulate” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Citigroup Inc. assumed coverage on shares of Pier 1 Imports in a report on Friday, April 28th. They issued a “neutral” rating and a $7.00 price target for the company. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Pier 1 Imports presently has an average rating of “Hold” and an average price target of $5.69.
Shares of Pier 1 Imports (NYSE PIR) traded up 1.99% during midday trading on Wednesday, reaching $4.11. 1,484,575 shares of the company’s stock were exchanged. The company has a market cap of $333.24 million, a price-to-earnings ratio of 10.25 and a beta of 1.70. The stock’s 50 day moving average price is $4.70 and its 200 day moving average price is $6.02. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $9.68.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend was Monday, July 17th. Pier 1 Imports’s dividend payout ratio is presently 68.29%.
Hedge funds have recently added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new stake in Pier 1 Imports during the first quarter valued at $480,000. Bbva Compass Bancshares Inc. increased its stake in Pier 1 Imports by 15.0% in the first quarter. Bbva Compass Bancshares Inc. now owns 29,432 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 3,834 shares in the last quarter. American Century Companies Inc. bought a new stake in Pier 1 Imports during the first quarter valued at $7,209,000. Algert Global LLC bought a new stake in Pier 1 Imports during the first quarter valued at $1,732,000. Finally, State Board of Administration of Florida Retirement System increased its stake in Pier 1 Imports by 20.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 87,047 shares of the specialty retailer’s stock valued at $623,000 after buying an additional 14,973 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.
Pier 1 Imports Company Profile
Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.
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