Pier 1 Imports Inc. (PIR) Releases Q4 Earnings Guidance
Pier 1 Imports Inc. (NYSE:PIR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.24-0.32 for the period, compared to the Thomson Reuters consensus estimate of $0.27. Pier 1 Imports also updated its Q3 guidance to $0.09-0.15 EPS.
Shares of Pier 1 Imports Inc. (NYSE:PIR) traded up 2.15% on Wednesday, reaching $4.27. 4,132,337 shares of the company traded hands. The stock has a 50-day moving average price of $4.44 and a 200 day moving average price of $5.51. The firm has a market capitalization of $348.70 million, a P/E ratio of 13.51 and a beta of 1.73. Pier 1 Imports Inc. has a 1-year low of $3.73 and a 1-year high of $8.23.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Pier 1 Imports had a net margin of 1.44% and a return on equity of 9.60%. The business had revenue of $405.80 million for the quarter, compared to the consensus estimate of $406.96 million. During the same period last year, the firm earned $0.04 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. Analysts anticipate that Pier 1 Imports Inc. will post $0.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 6.56%. Pier 1 Imports’s payout ratio is presently 84.85%.
Several research analysts have weighed in on the stock. Wedbush reiterated an outperform rating on shares of Pier 1 Imports in a research report on Wednesday. BTIG Research reiterated a sell rating and issued a $3.50 price target on shares of Pier 1 Imports in a research report on Thursday, September 22nd. Zacks Investment Research downgraded shares of Pier 1 Imports from a hold rating to a sell rating in a research report on Saturday, September 10th. Nomura reiterated a buy rating and issued a $8.50 price target on shares of Pier 1 Imports in a research report on Thursday, September 8th. Finally, Deutsche Bank AG decreased their price target on shares of Pier 1 Imports from $5.00 to $3.75 and set a sell rating on the stock in a research report on Thursday, September 8th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Pier 1 Imports has an average rating of Hold and an average target price of $6.40.
Several large investors have recently added to or reduced their stakes in PIR. Cubist Systematic Strategies LLC purchased a new stake in Pier 1 Imports during the second quarter valued at about $117,000. Stevens Capital Management LP purchased a new stake in Pier 1 Imports during the second quarter valued at about $136,000. BlackRock Inc. raised its stake in Pier 1 Imports by 341.1% in the second quarter. BlackRock Inc. now owns 33,739 shares of the company’s stock valued at $173,000 after buying an additional 26,090 shares during the period. KCG Holdings Inc. purchased a new stake in Pier 1 Imports during the second quarter valued at about $180,000. Finally, BlackRock Advisors LLC raised its stake in Pier 1 Imports by 3.9% in the second quarter. BlackRock Advisors LLC now owns 40,719 shares of the company’s stock valued at $209,000 after buying an additional 1,520 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.
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.
Receive News & Stock Ratings for Pier 1 Imports Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pier 1 Imports Inc. and related stocks with our FREE daily email newsletter.