Zacks: Analysts Anticipate Pier 1 Imports, Inc. (PIR) Will Post Quarterly Sales of $467.13 Million

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.

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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.

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

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