Wedbush Reaffirms “Neutral” Rating for Pier 1 Imports Inc. (PIR)
PIR has been the topic of a number of other reports. 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. BTIG Research reaffirmed a sell rating and set a $3.50 price target on shares of Pier 1 Imports in a research report on Thursday, September 22nd. Telsey Advisory Group raised their price target on shares of Pier 1 Imports from $5.00 to $5.50 and gave the stock a market perform rating in a research report on Tuesday. Nomura reaffirmed a buy rating and set a $8.50 price target on shares of Pier 1 Imports in a research report on Thursday, September 29th. Finally, Raymond James Financial Inc. lowered shares of Pier 1 Imports from a strong-buy rating to a market perform rating in a report on Thursday, September 8th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. Pier 1 Imports has an average rating of Hold and an average price target of $5.36.
Pier 1 Imports (NYSE:PIR) opened at 5.76 on Tuesday. The company has a 50-day moving average of $4.61 and a 200 day moving average of $4.98. Pier 1 Imports has a one year low of $3.73 and a one year high of $7.70. The company has a market cap of $463.31 million, a P/E ratio of 24.20 and a beta of 1.57.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates 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 was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. Equities research analysts predict that Pier 1 Imports will post $0.26 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th were paid a $0.07 dividend. The ex-dividend date was Monday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 4.86%. Pier 1 Imports’s payout ratio is 116.67%.
Several hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its stake in Pier 1 Imports by 26.9% in the third quarter. Oppenheimer & Co. Inc. now owns 23,729 shares of the company’s stock valued at $101,000 after buying an additional 5,029 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Pier 1 Imports during the second quarter valued at about $117,000. Bayesian Capital Management LP purchased a new stake in Pier 1 Imports during the first quarter valued at about $118,000. Dynamic Technology Lab Private Ltd purchased a new stake in Pier 1 Imports during the second quarter valued at about $136,000. Finally, Stevens Capital Management LP purchased a new stake in Pier 1 Imports during the second quarter valued at about $136,000. Hedge funds and other institutional investors own 91.74% 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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