Analysts expect Pier 1 Imports, Inc. (NYSE:PIR) to announce $467.13 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Pier 1 Imports’ earnings, with the highest sales estimate coming in at $471.10 million and the lowest estimate coming in at $463.06 million. Pier 1 Imports posted sales of $475.90 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The business is expected to report its next quarterly earnings results on Wednesday, December 13th.
According to Zacks, analysts expect that Pier 1 Imports will report full year sales of $467.13 million for the current fiscal year, with estimates ranging from $1.84 billion to $1.85 billion. For the next year, analysts forecast that the company will post sales of $1.83 billion per share, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings data on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $407.61 million for the quarter, compared to the consensus estimate of $406.32 million. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share.
Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Pier 1 Imports from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Friday, June 30th. Johnson Rice cut shares of Pier 1 Imports from an “accumulate” rating to a “hold” rating in a report on Thursday, June 29th. Credit Suisse Group decreased their price target on shares of Pier 1 Imports from $4.00 to $3.50 and set an “underperform” rating for the company in a report on Thursday, September 28th. Loop Capital restated a “buy” rating and set a $10.00 price target (down from $12.00) on shares of Pier 1 Imports in a report on Thursday, June 29th. Finally, KeyCorp restated a “hold” rating on shares of Pier 1 Imports in a report on Friday, September 8th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Pier 1 Imports presently has an average rating of “Hold” and an average target price of $5.01.
A number of hedge funds and other institutional investors have recently bought and sold shares of PIR. Dimensional Fund Advisors LP lifted its stake in Pier 1 Imports by 34.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,979,863 shares of the specialty retailer’s stock valued at $49,976,000 after acquiring an additional 1,789,745 shares during the last quarter. Vanguard Group Inc. lifted its stake in Pier 1 Imports by 19.3% in the first quarter. Vanguard Group Inc. now owns 7,304,924 shares of the specialty retailer’s stock valued at $52,303,000 after acquiring an additional 1,179,575 shares during the last quarter. Teachers Advisors LLC lifted its stake in Pier 1 Imports by 794.7% in the first quarter. Teachers Advisors LLC now owns 1,289,958 shares of the specialty retailer’s stock valued at $9,236,000 after acquiring an additional 1,145,780 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in Pier 1 Imports in the second quarter valued at approximately $2,607,000. Finally, Maverick Capital Ltd. acquired a new stake in Pier 1 Imports in the second quarter valued at approximately $2,498,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece of content was reported by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.themarketsdaily.com/2017/10/13/zacks-analysts-anticipate-pier-1-imports-inc-pir-will-post-quarterly-sales-of-467-13-million.html.
Pier 1 Imports (NYSE PIR) opened at 4.08 on Friday. The company’s 50 day moving average is $4.32 and its 200 day moving average is $5.25. The stock has a market cap of $330.81 million, a P/E ratio of 10.17 and a beta of 1.69. Pier 1 Imports has a 52 week low of $3.96 and a 52 week high of $9.68.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date is Tuesday, October 17th. Pier 1 Imports’s dividend payout ratio (DPR) is presently 77.78%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pier 1 Imports Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pier 1 Imports Inc. and related companies with MarketBeat.com's FREE daily email newsletter.