SunTrust Banks Analysts Cut Earnings Estimates for Pier 1 Imports, Inc. (PIR)
Pier 1 Imports, Inc. (NYSE:PIR) – Stock analysts at SunTrust Banks reduced their Q3 2018 earnings estimates for Pier 1 Imports in a research note issued on Wednesday. SunTrust Banks analyst D. Magee now forecasts that the specialty retailer will earn $0.12 per share for the quarter, down from their previous estimate of $0.20. SunTrust Banks also issued estimates for Pier 1 Imports’ FY2018 earnings at $0.40 EPS and FY2019 earnings at $0.45 EPS.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The business had revenue of $407.61 million for the quarter, compared to the consensus estimate of $406.32 million. During the same period in the prior year, the company posted ($0.05) earnings per share. Pier 1 Imports’s revenue was up .4% compared to the same quarter last year.
Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Saturday. UBS AG reaffirmed a “sell” rating and set a $3.50 target price (down previously from $4.00) on shares of Pier 1 Imports in a report on Saturday. Telsey Advisory Group reduced their target price on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Thursday, June 29th. Loop Capital reduced their target price on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, Johnson Rice lowered Pier 1 Imports from an “accumulate” rating to a “hold” rating in a report on Thursday, June 29th. Seven research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.13.
Pier 1 Imports (PIR) opened at 4.19 on Friday. The firm has a market capitalization of $339.73 million, a P/E ratio of 10.45 and a beta of 1.69. The company has a 50 day moving average of $4.37 and a 200 day moving average of $5.55. Pier 1 Imports has a 1-year low of $3.96 and a 1-year high of $9.68.
Large investors have recently added to or reduced their stakes in the stock. Aperio Group LLC bought a new stake in Pier 1 Imports in the 2nd quarter worth approximately $103,000. Alambic Investment Management L.P. bought a new stake in Pier 1 Imports in the 1st quarter worth approximately $104,000. Jane Street Group LLC lifted its position in Pier 1 Imports by 29.0% in the 1st quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock worth $154,000 after buying an additional 4,853 shares during the last quarter. Airain ltd bought a new stake in Pier 1 Imports in the 1st quarter worth approximately $159,000. Finally, Koch Industries Inc. bought a new stake in Pier 1 Imports in the 1st quarter worth approximately $171,000. Institutional investors own 82.76% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend is Tuesday, October 17th. Pier 1 Imports’s payout ratio is 77.78%.
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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