Analysts Expect Pier 1 Imports, Inc. (PIR) Will Announce Earnings of -$0.06 Per Share
Wall Street analysts predict that Pier 1 Imports, Inc. (NYSE:PIR) will announce earnings per share of ($0.06) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Pier 1 Imports’ earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.07). Pier 1 Imports posted earnings per share of ($0.05) in the same quarter last year, which indicates a negative year over year growth rate of 20%. The firm is expected to report its next earnings results on Wednesday, September 27th.
On average, analysts expect that Pier 1 Imports will report full year earnings of $0.48 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.50. For the next fiscal year, analysts expect that the firm will post earnings of $0.50 per share, with EPS estimates ranging from $0.42 to $0.67. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The business had revenue of $409.50 million during the quarter, compared to analysts’ expectations of $420.80 million. During the same quarter last year, the business posted ($0.07) earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis.
Several equities research analysts have recently commented on PIR shares. Telsey Advisory Group lowered their target price on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, June 29th. Jefferies Group LLC lowered their target price on Pier 1 Imports from $7.25 to $5.90 and set a “hold” rating for the company in a research note on Friday, June 30th. Gordon Haskett raised Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 target price for the company in a research note on Tuesday, June 27th. Zacks Investment Research cut Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, ValuEngine cut Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Pier 1 Imports presently has a consensus rating of “Hold” and an average price target of $5.69.
Shares of Pier 1 Imports (NYSE:PIR) traded up 1.99% on Wednesday, reaching $4.11. The company had a trading volume of 1,484,575 shares. Pier 1 Imports has a one year low of $3.73 and a one year high of $9.68. The company has a 50-day moving average price of $4.70 and a 200-day moving average price of $6.02. The firm has a market cap of $333.24 million, a P/E ratio of 10.25 and a beta of 1.70.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were paid a $0.07 dividend. The ex-dividend date was Monday, July 17th. This represents a $0.28 dividend on an annualized basis and a yield of 6.81%. Pier 1 Imports’s payout ratio is 68.29%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aperio Group LLC acquired a new position in Pier 1 Imports during the second quarter worth about $103,000. Alambic Investment Management L.P. acquired a new position in Pier 1 Imports during the first quarter worth about $104,000. Jane Street Group LLC boosted 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 worth $154,000 after buying an additional 4,853 shares during the last quarter. Airain ltd acquired a new position in Pier 1 Imports during the first quarter worth about $159,000. Finally, Teza Capital Management LLC acquired a new position in Pier 1 Imports during the first quarter worth about $167,000. 86.18% of the stock is owned by hedge funds and other institutional investors.
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About Pier 1 Imports
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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