Brokerages Expect Pier 1 Imports, Inc. (PIR) to Post $0.12 EPS
Wall Street analysts forecast that Pier 1 Imports, Inc. (NYSE:PIR) will post earnings of $0.12 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Pier 1 Imports’ earnings. The lowest EPS estimate is $0.10 and the highest is $0.14. Pier 1 Imports posted earnings of $0.22 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 45.5%. The business is expected to issue its next quarterly earnings report on Wednesday, December 13th.
According to Zacks, analysts expect that Pier 1 Imports will report full-year earnings of $0.42 per share for the current year, with EPS estimates ranging from $0.39 to $0.46. For the next financial year, analysts expect that the business will report earnings of $0.44 per share, with EPS estimates ranging from $0.35 to $0.61. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings data on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The business had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. During the same period in the prior year, the company earned ($0.05) EPS. Pier 1 Imports’s revenue for the quarter was up .4% on a year-over-year basis.
Several equities research analysts have issued reports on the company. ValuEngine raised Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Credit Suisse Group set a $4.00 target price on Pier 1 Imports and gave the company an “underperform” rating in a research note on Friday, July 7th. Zacks Investment Research lowered Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub lowered Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Loop Capital lowered their target price on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Pier 1 Imports has a consensus rating of “Hold” and a consensus target price of $5.01.
Several hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Pier 1 Imports by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,075,640 shares of the specialty retailer’s stock worth $7,702,000 after purchasing an additional 50,380 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Pier 1 Imports by 84.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 53,551 shares of the specialty retailer’s stock worth $383,000 after purchasing an additional 24,454 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Pier 1 Imports in the 1st quarter worth approximately $2,093,000. American International Group Inc. boosted its position in shares of Pier 1 Imports by 7.1% in the 1st quarter. American International Group Inc. now owns 49,865 shares of the specialty retailer’s stock worth $357,000 after purchasing an additional 3,298 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Pier 1 Imports by 432.6% in the 1st quarter. Alliancebernstein L.P. now owns 420,356 shares of the specialty retailer’s stock worth $3,010,000 after purchasing an additional 341,428 shares in the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.
Shares of Pier 1 Imports (NYSE:PIR) traded down 4.08% during trading on Monday, reaching $4.23. The company’s stock had a trading volume of 1,629,351 shares. The stock’s 50-day moving average is $4.34 and its 200-day moving average is $5.03. The stock has a market cap of $339.88 million, a P/E ratio of 11.72 and a beta of 1.69. Pier 1 Imports has a 12-month low of $3.96 and a 12-month high of $9.68.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.62%. Pier 1 Imports’s dividend payout ratio (DPR) is 77.78%.
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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