$406.87 Million in Sales Expected for Pier 1 Imports, Inc. (PIR) This Quarter
Equities research analysts predict that Pier 1 Imports, Inc. (NYSE:PIR) will post $406.87 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Pier 1 Imports’ earnings, with estimates ranging from $404.79 million to $409.90 million. Pier 1 Imports posted sales of $405.82 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.3%. The business is expected to issue its next earnings results on Wednesday, September 27th.
According to Zacks, analysts expect that Pier 1 Imports will report full-year sales of $406.87 million for the current financial year, with estimates ranging from $1.84 billion to $1.86 billion. For the next fiscal year, analysts expect that the business will post sales of $1.83 billion per share, with estimates ranging from $1.80 billion to $1.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $409.50 million during the quarter, compared to analyst estimates of $420.80 million. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share.
Several research firms have recently issued reports on PIR. Credit Suisse Group set a $4.00 target price on Pier 1 Imports and gave the stock a “sell” rating in a research report on Friday. Zacks Investment Research cut Pier 1 Imports from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Morgan Stanley cut their price objective on Pier 1 Imports from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Friday, June 30th. Jefferies Group LLC cut their price objective on Pier 1 Imports from $7.25 to $5.90 and set a “hold” rating on the stock in a report on Friday, June 30th. Finally, Deutsche Bank AG cut their price objective on Pier 1 Imports from $5.00 to $4.00 and set a “sell” rating on the stock in a report on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.97.
Pier 1 Imports (NYSE:PIR) traded down 5.00% during mid-day trading on Friday, hitting $4.56. 1,369,339 shares of the stock were exchanged. The stock has a market capitalization of $369.72 million, a P/E ratio of 11.37 and a beta of 1.72. The firm has a 50-day moving average price of $5.38 and a 200-day moving average price of $6.85. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $9.68.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Monday, July 17th. Pier 1 Imports’s dividend payout ratio (DPR) is 68.29%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Alambic Investment Management L.P. bought a new position in Pier 1 Imports during the first quarter valued at $104,000. Jane Street Group LLC raised its position in Pier 1 Imports by 29.0% in the first quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock valued at $154,000 after buying an additional 4,853 shares during the period. Airain ltd bought a new position in Pier 1 Imports during the first quarter valued at $159,000. Teza Capital Management LLC bought a new position in Pier 1 Imports during the first quarter valued at $167,000. Finally, Koch Industries Inc. bought a new position in Pier 1 Imports during the first quarter valued at $171,000. 87.13% 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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