Wedbush Research Analysts Increase Earnings Estimates for Pier 1 Imports Inc (PIR)

Pier 1 Imports Inc (NYSE:PIR) – Research analysts at Wedbush raised their FY2019 earnings estimates for Pier 1 Imports in a research note issued to investors on Thursday. Wedbush analyst S. Basham now forecasts that the specialty retailer will post earnings per share of $0.16 for the year, up from their prior forecast of $0.14.

Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, December 13th. The specialty retailer reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). Pier 1 Imports had a return on equity of 10.17% and a net margin of 1.28%. The firm had revenue of $469.20 million for the quarter, compared to analyst estimates of $466.60 million. During the same period last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year.

A number of other equities research analysts also recently commented on PIR. ValuEngine downgraded Pier 1 Imports from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Loop Capital cut Pier 1 Imports from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.00 to $4.00 in a research report on Thursday, September 28th. Morgan Stanley reiterated an “underweight” rating and set a $4.20 price target (down from $4.60) on shares of Pier 1 Imports in a research report on Thursday, September 28th. Credit Suisse Group reduced their price target on Pier 1 Imports from $4.00 to $3.50 and set an “underperform” rating for the company in a research report on Thursday, September 28th. Finally, Zacks Investment Research cut Pier 1 Imports from a “hold” rating to a “sell” rating in a research report on Saturday, September 30th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Pier 1 Imports has an average rating of “Hold” and a consensus target price of $4.78.

Pier 1 Imports (NYSE PIR) traded down $0.02 during trading on Monday, hitting $4.18. The company had a trading volume of 2,409,600 shares, compared to its average volume of 2,316,767. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.14 and a quick ratio of 0.61. Pier 1 Imports has a 12-month low of $3.96 and a 12-month high of $8.63. The firm has a market capitalization of $350.24, a P/E ratio of 14.41, a price-to-earnings-growth ratio of -6.97 and a beta of 1.86.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 6.70%. The ex-dividend date is Tuesday, January 16th. Pier 1 Imports’s dividend payout ratio is currently 96.55%.

A number of hedge funds have recently made changes to their positions in PIR. Nisa Investment Advisors LLC increased its position in shares of Pier 1 Imports by 231.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 114,500 shares of the specialty retailer’s stock valued at $474,000 after buying an additional 80,000 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Pier 1 Imports by 114.3% in the third quarter. GSA Capital Partners LLP now owns 405,720 shares of the specialty retailer’s stock valued at $1,700,000 after buying an additional 216,420 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Pier 1 Imports by 5.6% in the third quarter. California Public Employees Retirement System now owns 640,729 shares of the specialty retailer’s stock valued at $2,685,000 after buying an additional 33,929 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Pier 1 Imports by 263.3% in the third quarter. Allianz Asset Management GmbH now owns 440,136 shares of the specialty retailer’s stock valued at $1,844,000 after buying an additional 318,987 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Pier 1 Imports by 35.2% in the third quarter. Stifel Financial Corp now owns 140,325 shares of the specialty retailer’s stock valued at $582,000 after buying an additional 36,525 shares in the last quarter. Institutional investors own 78.35% of the company’s stock.

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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.

Earnings History and Estimates for Pier 1 Imports (NYSE:PIR)

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