Pier 1 Imports Inc. (PIR) Announces $0.07 Quarterly Dividend
Pier 1 Imports Inc. (NYSE:PIR) announced a quarterly dividend on Wednesday, September 28th. Stockholders of record on Wednesday, October 19th will be paid a dividend of 0.07 per share on Wednesday, November 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.56%.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.27 on Thursday. The company has a market cap of $348.70 million, a P/E ratio of 13.51 and a beta of 1.73. The stock’s 50 day moving average is $4.42 and its 200-day moving average is $5.50. Pier 1 Imports has a one year low of $3.73 and a one year high of $8.23.
Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, September 28th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Pier 1 Imports had a net margin of 1.44% and a return on equity of 9.60%. The company had revenue of $405.80 million for the quarter, compared to the consensus estimate of $406.96 million. During the same period in the previous year, the firm earned $0.04 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts forecast that Pier 1 Imports will post $0.26 earnings per share for the current year.
Several brokerages recently commented on PIR. BTIG Research began coverage on shares of Pier 1 Imports in a research note on Thursday, June 2nd. They issued a “neutral” rating on the stock. Wolfe Research raised shares of Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, June 22nd. Telsey Advisory Group decreased their target price on shares of Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, June 30th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price (down from $6.00) on shares of Pier 1 Imports in a research note on Thursday, June 30th. Finally, Deutsche Bank AG began coverage on shares of Pier 1 Imports in a research note on Sunday, June 26th. They issued a “sell” rating and a $5.50 target price on the stock. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. Pier 1 Imports has a consensus rating of “Hold” and a consensus price target of $6.29.
A number of institutional investors have recently bought and sold shares of PIR. Cubist Systematic Strategies LLC bought a new position in Pier 1 Imports during the second quarter valued at about $117,000. Stevens Capital Management LP bought a new position in Pier 1 Imports during the second quarter valued at about $136,000. BlackRock Inc. boosted its position 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 in the last quarter. KCG Holdings Inc. bought a new position in Pier 1 Imports during the second quarter valued at about $180,000. Finally, BlackRock Advisors LLC boosted its position 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 in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.
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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