Pier 1 Imports Inc. (NYSE:PIR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.24-0.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.27. Pier 1 Imports also updated its Q3 guidance to $0.09-0.15 EPS.
A number of equities research analysts recently issued reports on the stock. Credit Suisse Group AG restated a hold rating on shares of Pier 1 Imports in a report on Thursday, June 30th. Telsey Advisory Group lowered their target price 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 30th. Wolfe Research upgraded shares of Pier 1 Imports from an underperform rating to a peer perform rating in a report on Wednesday, June 22nd. Oppenheimer Holdings Inc. downgraded shares of Pier 1 Imports from an outperform rating to a market perform rating in a report on Thursday, September 8th. Finally, BTIG Research assumed coverage on shares of Pier 1 Imports in a report on Thursday, June 2nd. They issued a neutral rating for the company. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. Pier 1 Imports presently has a consensus rating of Hold and a consensus price target of $6.30.
Shares of Pier 1 Imports Inc. (NYSE:PIR) opened at 4.47 on Friday. The firm has a market cap of $365.03 million, a PE ratio of 14.15 and a beta of 1.73. Pier 1 Imports Inc. has a 12-month low of $3.73 and a 12-month high of $8.23. The company has a 50 day moving average of $4.41 and a 200-day moving average of $5.49.
Pier 1 Imports (NYSE:PIR) last posted its earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The company earned $405.80 million during the quarter. Pier 1 Imports had a return on equity of 9.60% and a net margin of 1.44%. Pier 1 Imports’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Equities research analysts forecast that Pier 1 Imports Inc. will post $0.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders 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 dividend yield of 6.26%. Pier 1 Imports’s payout ratio is currently 84.85%.
Several institutional investors have recently modified their holdings of PIR. Cubist Systematic Strategies LLC acquired a new position in shares of Pier 1 Imports during the second quarter valued at about $117,000. Stevens Capital Management LP acquired a new position in shares of Pier 1 Imports during the second quarter valued at about $136,000. BlackRock Inc. raised its position in shares of Pier 1 Imports by 341.1% in the second quarter. BlackRock Inc. now owns 33,739 shares of the company’s stock valued at $173,000 after buying an additional 26,090 shares in the last quarter. KCG Holdings Inc. acquired a new position in shares of Pier 1 Imports during the second quarter valued at about $180,000. Finally, BlackRock Advisors LLC raised its position in shares of Pier 1 Imports by 3.9% in the second quarter. BlackRock Advisors LLC now owns 40,719 shares of the company’s stock valued at $209,000 after buying an additional 1,520 shares in 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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