Zacks Downgrades Pier 1 Imports to Underperform (PIR)
Pier 1 Imports (NYSE:PIR) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a $19.40 price target on the stock. Zacks‘ target price suggests a potential downside of 5.23% from the company’s current price.
Shares of Pier 1 Imports (NYSE:PIR) traded up 1.12% during mid-day trading on Wednesday, hitting $20.70. The stock had a trading volume of 1,225,866 shares. Pier 1 Imports has a 52-week low of $19.00 and a 52-week high of $25.29. The stock’s 50-day moving average is $21.90 and its 200-day moving average is $21.92. The company has a market cap of $2.139 billion and a P/E ratio of 17.14.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.02. The company had revenue of $465.46 million for the quarter, compared to the consensus estimate of $462.14 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that Pier 1 Imports will post $1.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of 0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from Pier 1 Imports’s previous quarterly dividend of $0.05.
A number of other firms have also recently commented on PIR. Analysts at Jefferson Research upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research note to investors on Friday, January 10th. Separately, analysts at SunTrust initiated coverage on shares of Pier 1 Imports in a research note to investors on Friday, December 13th. They set a “neutral” rating and a $0.10 price target on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note to investors on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Pier 1 Imports presently has an average rating of “Buy” and a consensus target price of $19.44.
Pier 1 Imports, Inc (NYSE:PIR) is a specialty retailer of decorative home furnishings and gifts.
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