$467.13 Million in Sales Expected for Pier 1 Imports, Inc. (PIR) This Quarter
Equities analysts predict that Pier 1 Imports, Inc. (NYSE:PIR) will announce $467.13 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Pier 1 Imports’ earnings. The highest sales estimate is $471.10 million and the lowest is $463.06 million. Pier 1 Imports reported sales of $475.90 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The company is expected to issue its next earnings results on Wednesday, December 13th.
According to Zacks, analysts expect that Pier 1 Imports will report full-year sales of $467.13 million for the current financial year, with estimates ranging from $1.84 billion to $1.85 billion. For the next financial year, analysts expect that the firm will report sales of $1.83 billion per share, with estimates ranging from $1.80 billion to $1.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) EPS for the quarter, beating 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 company had revenue of $407.61 million for the quarter, compared to analyst estimates of $406.32 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year.
A number of equities analysts have recently commented on PIR shares. KeyCorp reissued a “hold” rating on shares of Pier 1 Imports in a report on Friday, September 8th. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Credit Suisse Group reissued a “sell” rating and set a $4.00 price target on shares of Pier 1 Imports in a report on Friday, September 29th. BidaskClub raised Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Loop Capital cut Pier 1 Imports from a “buy” rating to a “hold” rating and lowered their target price for the stock from $8.00 to $4.00 in a report on Thursday, September 28th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Pier 1 Imports has an average rating of “Hold” and an average price target of $5.01.
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Hedge funds have recently modified their holdings of the company. Aperio Group LLC acquired a new stake in shares of Pier 1 Imports in the second quarter valued at about $103,000. Jane Street Group LLC increased its stake in shares of 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. Eagle Global Advisors LLC acquired a new stake in shares of Pier 1 Imports in the second quarter valued at about $175,000. SG Americas Securities LLC acquired a new stake in shares of Pier 1 Imports in the second quarter valued at about $178,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Pier 1 Imports by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock valued at $194,000 after buying an additional 1,583 shares during the period. 80.82% of the stock is owned by institutional investors.
Shares of Pier 1 Imports (NYSE PIR) opened at 4.16 on Wednesday. The company has a market cap of $334.25 million, a price-to-earnings ratio of 11.52 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’s 50 day moving average price is $4.33 and its 200 day moving average price is $4.98.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 6.73%. Pier 1 Imports’s payout ratio is 77.78%.
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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