Pier 1 Imports Shares Down 4.2% After Earnings Miss (PIR)
Pier 1 Imports (NYSE:PIR) shares dropped 4.2% during trading on Friday following a weaker than expected earnings announcement, Stock Ratings Network reports. The company traded as low as $15.00 and last traded at $15.20, with a volume of 5,241,358 shares trading hands. The stock had previously closed at $15.86.
The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.04. The company had revenue of $419.10 million for the quarter, compared to the consensus estimate of $422.43 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis.
PIR has been the subject of a number of recent research reports. Analysts at Telsey Advisory Group cut their price target on shares of Pier 1 Imports from $22.00 to $20.00 in a research note on Friday. They now have a “not rated” rating on the stock. Separately, analysts at Deutsche Bank downgraded shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $18.00 price target on the stock, down previously from $24.00. Finally, analysts at Barrington Research initiated coverage on shares of Pier 1 Imports in a research note on Monday, June 2nd. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $21.40.
The stock has a 50-day moving average of $17.70 and a 200-day moving average of $19.25. The company has a market cap of $1.477 billion and a price-to-earnings ratio of 15.70.
Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts.
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