Pier 1 Imports Inc. (PIR) Releases Q3 Earnings Guidance
Pier 1 Imports Inc. (NYSE:PIR) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.09-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.12. Pier 1 Imports also updated its Q4 guidance to $0.24-0.32 EPS.
Pier 1 Imports Inc. (NYSE:PIR) traded up 2.15% during mid-day trading on Wednesday, reaching $4.27. 4,069,341 shares of the company’s stock traded hands. The stock has a market capitalization of $348.70 million, a PE ratio of 13.51 and a beta of 1.73. The stock’s 50 day moving average is $4.44 and its 200-day moving average is $5.51. Pier 1 Imports Inc. has a 52 week low of $3.73 and a 52 week high of $8.23.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The business had revenue of $405.80 million for the quarter, compared to analysts’ expectations of $406.96 million. Pier 1 Imports had a net margin of 1.44% and a return on equity of 9.60%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities analysts anticipate that Pier 1 Imports Inc. will post $0.26 EPS for the current year.
Several analysts recently weighed in on the stock. Wedbush reaffirmed an outperform rating on shares of Pier 1 Imports in a report on Wednesday. BTIG Research reaffirmed a sell rating and issued a $3.50 target price on shares of Pier 1 Imports in a report on Thursday, September 22nd. Zacks Investment Research cut shares of Pier 1 Imports from a hold rating to a sell rating in a report on Saturday, September 10th. Nomura reaffirmed a buy rating and issued a $8.50 target price on shares of Pier 1 Imports in a report on Thursday, September 8th. Finally, Deutsche Bank AG reduced their target price on shares of Pier 1 Imports from $5.00 to $3.75 and set a sell rating on the stock in a report on Thursday, September 8th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $6.40.
A number of large investors have recently added to or reduced their stakes in PIR. Rhumbline Advisers increased its stake in Pier 1 Imports by 13.1% in the second quarter. Rhumbline Advisers now owns 116,908 shares of the company’s stock worth $601,000 after buying an additional 13,565 shares during the period. Raymond James & Associates increased its stake in Pier 1 Imports by 0.5% in the second quarter. Raymond James & Associates now owns 258,123 shares of the company’s stock worth $1,327,000 after buying an additional 1,187 shares during the period. TFS Capital LLC increased its stake in Pier 1 Imports by 387.6% in the second quarter. TFS Capital LLC now owns 296,994 shares of the company’s stock worth $1,527,000 after buying an additional 236,079 shares during the period. Analytic Investors LLC increased its stake in Pier 1 Imports by 123.9% in the second quarter. Analytic Investors LLC now owns 185,196 shares of the company’s stock worth $952,000 after buying an additional 102,478 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in Pier 1 Imports by 31.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 585,221 shares of the company’s stock worth $3,008,000 after buying an additional 141,305 shares during the period. 98.63% of the stock is owned by institutional investors.
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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