Pier 1 Imports Inc. to Post Q3 2017 Earnings of $0.13 Per Share, KeyCorp Forecasts (PIR)
Pier 1 Imports Inc. (NYSE:PIR) – KeyCorp cut their Q3 2017 earnings per share (EPS) estimates for Pier 1 Imports in a report issued on Wednesday. KeyCorp analyst B. Thomas now expects that the brokerage will post earnings of $0.13 per share for the quarter, down from their previous estimate of $0.15. KeyCorp also issued estimates for Pier 1 Imports’ Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.28 EPS and FY2018 earnings at $0.32 EPS.
A number of other research analysts have also weighed in on PIR. Deutsche Bank AG began coverage on shares of Pier 1 Imports in a research report on Sunday, June 26th. They set a “sell” rating and a $5.50 price target on the stock. BTIG Research reissued a “sell” rating and set a $3.50 price target on shares of Pier 1 Imports in a research report on Thursday. Oppenheimer Holdings Inc. lowered shares of Pier 1 Imports from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 8th. Guggenheim reissued a “neutral” rating on shares of Pier 1 Imports in a research report on Friday. Finally, Citigroup Inc. lowered shares of Pier 1 Imports from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, September 8th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.30.
Pier 1 Imports (NYSE:PIR) traded down 5.15% during mid-day trading on Friday, reaching $4.24. 4,421,295 shares of the company’s stock were exchanged. Pier 1 Imports has a 52-week low of $3.73 and a 52-week high of $8.23. The stock has a market cap of $341.05 million, a price-to-earnings ratio of 17.82 and a beta of 1.73. The company has a 50-day moving average of $4.40 and a 200-day moving average of $5.48.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings data on Wednesday, September 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The firm earned $405.80 million during the quarter. Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, October 17th. This represents a $0.28 annualized dividend and a yield of 6.60%. Pier 1 Imports’s payout ratio is presently 116.67%.
A number of large investors have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC raised its stake in shares of Pier 1 Imports by 36.1% in the first quarter. TIAA CREF Investment Management LLC now owns 463,781 shares of the company’s stock worth $3,251,000 after buying an additional 123,047 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Pier 1 Imports during the first quarter worth $118,000. Aristotle Capital Boston LLC raised its stake in shares of Pier 1 Imports by 3.0% in the second quarter. Aristotle Capital Boston LLC now owns 410,748 shares of the company’s stock worth $2,111,000 after buying an additional 12,139 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Pier 1 Imports during the second quarter worth $3,376,000. Finally, Skyline Asset Management LP raised its stake in shares of Pier 1 Imports by 3.9% in the first quarter. Skyline Asset Management LP now owns 2,360,400 shares of the company’s stock worth $16,546,000 after buying an additional 87,700 shares during the last quarter. Institutional investors and hedge funds 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.
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