Pier 1 Imports, Inc. (NYSE:PIR) Given Consensus Recommendation of “Hold” by Brokerages
Pier 1 Imports, Inc. (NYSE:PIR) has been given a consensus recommendation of “Hold” by the twenty-two analysts that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.82.
A number of research firms recently weighed in on PIR. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Pier 1 Imports in a research report on Thursday, April 13th. Citigroup Inc. began coverage on shares of Pier 1 Imports in a research report on Friday, April 28th. They issued a “neutral” rating and a $7.00 target price for the company. Gordon Haskett began coverage on shares of Pier 1 Imports in a research report on Tuesday, May 9th. They issued a “reduce” rating and a $6.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.25 target price on shares of Pier 1 Imports in a research report on Tuesday, April 18th. Finally, CIBC reiterated a “hold” rating on shares of Pier 1 Imports in a research note on Monday, April 17th.
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Several large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System raised its stake in shares of 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 during the period. Chicago Equity Partners LLC bought a new stake in shares of Pier 1 Imports during the first quarter valued at about $1,105,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Pier 1 Imports during the first quarter valued at about $828,000. Russell Investments Group Ltd. raised its stake in shares of Pier 1 Imports by 132.2% in the first quarter. Russell Investments Group Ltd. now owns 1,116,100 shares of the specialty retailer’s stock valued at $7,991,000 after buying an additional 635,438 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Pier 1 Imports during the first quarter valued at about $177,000. 87.32% of the stock is currently owned by institutional investors.
Pier 1 Imports (NYSE:PIR) traded down 0.314% during midday trading on Tuesday, hitting $4.765. 892,783 shares of the company traded hands. The stock’s 50-day moving average is $5.38 and its 200-day moving average is $6.85. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $9.68. The firm has a market capitalization of $386.35 million, a PE ratio of 11.883 and a beta of 1.72.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $409.50 million during the quarter, compared to the consensus estimate 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 for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. Analysts anticipate that Pier 1 Imports will post $0.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend is Monday, July 17th. Pier 1 Imports’s dividend payout ratio is currently 68.29%.
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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