$538.88 Million in Sales Expected for Pier 1 Imports Inc (PIR) This Quarter

Wall Street analysts expect Pier 1 Imports Inc (NYSE:PIR) to report sales of $538.88 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Pier 1 Imports’ earnings, with estimates ranging from $534.00 million to $544.20 million. Pier 1 Imports posted sales of $528.35 million during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The company is scheduled to announce its next quarterly 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 year, analysts forecast that the firm will report sales of $1.81 billion per share, with estimates ranging from $1.77 billion to $1.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $469.20 million during the quarter, compared to analysts’ expectations of $466.60 million. Pier 1 Imports had a return on equity of 10.17% and a net margin of 1.28%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS.

Several analysts have issued reports on PIR shares. ValuEngine raised Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Loop Capital lowered Pier 1 Imports from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.00 to $4.00 in a research note on Thursday, September 28th. Gordon Haskett lowered Pier 1 Imports from a “hold” rating to a “sell” rating and set a $3.50 target price for the company. in a research note on Thursday, December 14th. Finally, UBS Group reaffirmed a “sell” rating and issued a $3.50 target price (down previously from $4.00) on shares of Pier 1 Imports in a research note on Saturday, September 30th. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus 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 business. The Manufacturers Life Insurance Company lifted its position in Pier 1 Imports by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 64,436 shares of the specialty retailer’s stock valued at $335,000 after purchasing an additional 326 shares during the last quarter. Rhumbline Advisers lifted its position in Pier 1 Imports by 0.5% in the second quarter. Rhumbline Advisers now owns 107,812 shares of the specialty retailer’s stock valued at $560,000 after purchasing an additional 491 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Pier 1 Imports by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock valued at $194,000 after purchasing an additional 1,583 shares during the last quarter. Federated Investors Inc. PA lifted its position in Pier 1 Imports by 2.1% in the second quarter. Federated Investors Inc. PA now owns 78,792 shares of the specialty retailer’s stock valued at $409,000 after purchasing an additional 1,636 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in Pier 1 Imports by 5.6% in the second quarter. Tudor Investment Corp ET AL now owns 92,622 shares of the specialty retailer’s stock valued at $481,000 after purchasing 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 (PIR) traded down $0.02 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 stock has a market capitalization of $350.06, a price-to-earnings ratio of 14.93, a P/E/G ratio of -7.00 and a beta of 1.86. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 2.14. Pier 1 Imports has a 1-year low of $3.96 and a 1-year high of $8.63.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $0.28 annualized dividend and a yield of 6.70%. Pier 1 Imports’s payout ratio is currently 100.00%.

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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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Earnings History and Estimates for Pier 1 Imports (NYSE:PIR)

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