Equities Analysts Issue Forecasts for Pier 1 Imports, Inc.’s FY2018 Earnings (PIR)
Pier 1 Imports, Inc. (NYSE:PIR) – Wedbush reduced their FY2018 EPS estimates for shares of Pier 1 Imports in a research report issued to clients and investors on Thursday. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings per share of $0.39 for the year, down from their previous estimate of $0.47. Wedbush also issued estimates for Pier 1 Imports’ Q4 2018 earnings at $0.38 EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.31 EPS and FY2019 earnings at $0.35 EPS.
PIR has been the topic of several other research reports. Johnson Rice downgraded shares of Pier 1 Imports from an “accumulate” rating to a “hold” rating in a research report on Thursday, June 29th. Telsey Advisory Group decreased their price target on shares of 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. Zacks Investment Research raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Wednesday, June 28th. Gordon Haskett upgraded shares of Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 price objective for the company in a research note on Tuesday, June 27th. Finally, ValuEngine upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Seven analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $5.13.
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Pier 1 Imports (NYSE:PIR) opened at 4.19 on Monday. The company’s 50-day moving average is $4.37 and its 200-day moving average is $5.55. Pier 1 Imports has a 12 month low of $3.96 and a 12 month high of $9.68. The company has a market cap of $339.73 million, a P/E ratio of 10.45 and a beta of 1.69.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings data on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, beating the 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 firm had revenue of $407.61 million during the quarter, compared to analysts’ expectations of $406.32 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in PIR. Nationwide Fund Advisors grew its stake in shares of Pier 1 Imports by 321.8% during the 1st quarter. Nationwide Fund Advisors now owns 275,386 shares of the specialty retailer’s stock worth $1,972,000 after purchasing an additional 210,090 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Pier 1 Imports by 20.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 87,047 shares of the specialty retailer’s stock valued at $623,000 after purchasing an additional 14,973 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pier 1 Imports by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,075,640 shares of the specialty retailer’s stock valued at $7,702,000 after purchasing an additional 50,380 shares in the last quarter. Comerica Bank purchased a new position in shares of Pier 1 Imports during the 1st quarter valued at approximately $761,000. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Pier 1 Imports by 84.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 53,551 shares of the specialty retailer’s stock valued at $383,000 after purchasing an additional 24,454 shares in the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date is Tuesday, October 17th. Pier 1 Imports’s payout ratio is presently 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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