Brokerages forecast that Pier 1 Imports Inc (NYSE:PIR) will post sales of $421.19 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Pier 1 Imports’ earnings, with estimates ranging from $419 million to $422.65 million. Pier 1 Imports posted sales of $418.37 million during the same quarter last year, which suggests a positive year over year growth rate of 0.7%. The business is scheduled to issue its next earnings report on Wednesday, July 5th.

According to Zacks, analysts expect that Pier 1 Imports will report full year sales of $421.19 million for the current year, with estimates ranging from $1.86 billion to $1.88 billion. For the next year, analysts expect that the company will post sales of $1.86 billion per share, with estimates ranging from $1.82 billion to $1.9 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Pier 1 Imports.

Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, April 12th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $528.40 million during the quarter, compared to analyst estimates of $529.43 million. Pier 1 Imports had a net margin of 1.20% and a return on equity of 9.68%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share.

A number of brokerages recently issued reports on PIR. Gordon Haskett began coverage on Pier 1 Imports in a research report on Tuesday, May 9th. They set a “reduce” rating and a $6.00 price objective for the company. Citigroup Inc began coverage on Pier 1 Imports in a research report on Friday, April 28th. They set a “neutral” rating and a $7.00 price objective for the company. Jefferies Group LLC reissued a “hold” rating and set a $7.25 price objective on shares of Pier 1 Imports in a research report on Tuesday, April 18th. CIBC restated a “hold” rating on shares of Pier 1 Imports in a report on Monday, April 17th. Finally, Guggenheim restated a “neutral” rating on shares of Pier 1 Imports in a report on Monday, April 17th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $6.64.

Shares of Pier 1 Imports (NYSE:PIR) traded down 3.609% during mid-day trading on Wednesday, hitting $5.475. 1,314,767 shares of the stock were exchanged. The stock has a market cap of $440.58 million, a price-to-earnings ratio of 14.797 and a beta of 1.74. The company has a 50-day moving average price of $6.84 and a 200-day moving average price of $6.92. Pier 1 Imports has a 12 month low of $3.73 and a 12 month high of $9.68.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend was Monday, April 24th. Pier 1 Imports’s dividend payout ratio is presently 100.00%.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Trexquant Investment LP raised its position in shares of Pier 1 Imports by 0.4% in the first quarter. Trexquant Investment LP now owns 73,572 shares of the specialty retailer’s stock worth $527,000 after buying an additional 272 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Pier 1 Imports by 1.0% in the first quarter. Dynamic Technology Lab Private Ltd now owns 64,496 shares of the specialty retailer’s stock worth $462,000 after buying an additional 644 shares in the last quarter. Ngam Advisors L.P. raised its position in shares of Pier 1 Imports by 4.2% in the first quarter. Ngam Advisors L.P. now owns 40,567 shares of the specialty retailer’s stock worth $291,000 after buying an additional 1,631 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Pier 1 Imports by 2.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 74,405 shares of the specialty retailer’s stock worth $315,000 after buying an additional 1,635 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Pier 1 Imports by 3.9% in the first quarter. Sei Investments Co. now owns 62,149 shares of the specialty retailer’s stock worth $445,000 after buying an additional 2,334 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other 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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