Analysts expect that Pier 1 Imports Inc (NYSE:PIR) will report sales of $538.88 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Pier 1 Imports’ earnings. The highest sales estimate is $544.20 million and the lowest is $534.00 million. Pier 1 Imports posted sales of $528.35 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2%. The business is expected to issue its next earnings report on Wednesday, April 11th.
According to Zacks, analysts expect that Pier 1 Imports will report full-year sales of $538.88 million for the current year, with estimates ranging from $1.82 billion to $1.84 billion. For the next financial year, analysts forecast that the company will post sales of $1.81 billion per share, with estimates ranging from $1.77 billion to $1.83 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, December 13th. The specialty retailer reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $469.20 million for the quarter, compared to the consensus estimate of $466.60 million. Pier 1 Imports had a net margin of 1.28% and a return on equity of 10.17%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share.
PIR has been the subject of a number of research analyst reports. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. ValuEngine raised Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Gordon Haskett lowered Pier 1 Imports from a “hold” rating to a “sell” rating and set a $3.50 price target for the company. in a research report on Thursday, December 14th. Loop Capital set a $4.00 price target on Pier 1 Imports and gave the stock a “hold” rating in a research report on Thursday, December 14th. Finally, Credit Suisse Group reissued a “sell” rating and issued a $4.00 price target on shares of Pier 1 Imports in a research report on Friday, September 29th. Eight research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Pier 1 Imports has an average rating of “Hold” and a consensus price target of $4.78.
A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in Pier 1 Imports by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,436 shares of the specialty retailer’s stock worth $335,000 after buying an additional 326 shares during the last quarter. Rhumbline Advisers grew its stake in Pier 1 Imports by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 107,812 shares of the specialty retailer’s stock worth $560,000 after buying an additional 491 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Pier 1 Imports by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock worth $194,000 after buying an additional 1,583 shares during the last quarter. Federated Investors Inc. PA grew its stake in Pier 1 Imports by 2.1% during the 2nd quarter. Federated Investors Inc. PA now owns 78,792 shares of the specialty retailer’s stock worth $409,000 after buying an additional 1,636 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in Pier 1 Imports by 5.6% during the 2nd quarter. Tudor Investment Corp ET AL now owns 92,622 shares of the specialty retailer’s stock worth $481,000 after buying an additional 4,935 shares during the last quarter. Hedge funds and other institutional investors own 77.92% of the company’s stock.
Shares of Pier 1 Imports (NYSE:PIR) traded down $0.02 during midday trading on Friday, reaching $4.18. The company’s stock had a trading volume of 2,409,601 shares, compared to its average volume of 2,092,249. The company has a current ratio of 2.14, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74. The company has a market cap of $350.06, a price-to-earnings ratio of 14.93, a PEG ratio of -7.00 and a beta of 1.86. Pier 1 Imports has a 1-year low of $3.96 and a 1-year high of $8.63.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend is Tuesday, January 16th. Pier 1 Imports’s payout ratio is 100.00%.
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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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