$407.22 Million in Sales Expected for Pier 1 Imports, Inc. (PIR) This Quarter
Analysts forecast that Pier 1 Imports, Inc. (NYSE:PIR) will announce sales of $407.22 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Pier 1 Imports’ earnings, with the lowest sales estimate coming in at $405.50 million and the highest estimate coming in at $409.90 million. Pier 1 Imports reported sales of $405.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.3%. The business is expected to announce its next quarterly earnings report on Wednesday, September 27th.
According to Zacks, analysts expect that Pier 1 Imports will report full year sales of $407.22 million for the current fiscal year, with estimates ranging from $1.84 billion to $1.86 billion. For the next year, analysts anticipate that the firm will post sales of $1.83 billion per share, with estimates ranging from $1.80 billion to $1.86 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings data on Wednesday, June 28th. The specialty retailer reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company 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%. Pier 1 Imports’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the firm earned ($0.07) EPS.
Several analysts recently issued reports on PIR shares. ValuEngine lowered shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Jefferies Group LLC cut their target price on shares of Pier 1 Imports from $7.25 to $5.90 and set a “hold” rating for the company in a research report on Friday, June 30th. Morgan Stanley cut their target price on shares of Pier 1 Imports from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Friday, June 30th. Finally, BidaskClub upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Seven 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’s stock. The company has a consensus rating of “Hold” and a consensus target price of $5.69.
Pier 1 Imports (PIR) opened at 4.01 on Friday. The company has a 50-day moving average of $4.62 and a 200 day moving average of $5.99. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $9.68. The company has a market capitalization of $325.13 million, a P/E ratio of 10.00 and a beta of 1.70.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 6.98%. The ex-dividend date was Monday, July 17th. Pier 1 Imports’s dividend payout ratio (DPR) is presently 68.29%.
Several institutional investors have recently added to or reduced their stakes in PIR. Teachers Advisors LLC increased its position in Pier 1 Imports by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 144,178 shares of the specialty retailer’s stock valued at $1,231,000 after buying an additional 3,130 shares during the period. Bank of Montreal Can increased its position in Pier 1 Imports by 7,670.5% in the first quarter. Bank of Montreal Can now owns 173,048 shares of the specialty retailer’s stock valued at $1,239,000 after buying an additional 170,821 shares during the period. Nationwide Fund Advisors increased its position in Pier 1 Imports by 321.8% in the first quarter. Nationwide Fund Advisors now owns 275,386 shares of the specialty retailer’s stock valued at $1,972,000 after buying an additional 210,090 shares during the period. Acadian Asset Management LLC increased its position in Pier 1 Imports by 199.2% in the first quarter. Acadian Asset Management LLC now owns 3,232,944 shares of the specialty retailer’s stock valued at $23,149,000 after buying an additional 2,152,335 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Pier 1 Imports during the first quarter valued at approximately $177,000. 86.18% of the stock is currently 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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