Pier 1 Imports Inc. (NYSE:PIR) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.09-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.12. Pier 1 Imports also updated its Q4 guidance to $0.24-0.32 EPS.
Shares of Pier 1 Imports Inc. (NYSE:PIR) traded up 2.15% during midday trading on Wednesday, hitting $4.27. The company had a trading volume of 4,132,337 shares. The stock has a market capitalization of $348.70 million, a price-to-earnings ratio of 13.51 and a beta of 1.73. Pier 1 Imports Inc. has a one year low of $3.73 and a one year high of $8.23. The stock’s 50-day moving average price is $4.44 and its 200-day moving average price is $5.51.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Pier 1 Imports had a return on equity of 9.60% and a net margin of 1.44%. The firm earned $405.80 million during the quarter, compared to analysts’ expectations of $406.96 million. During the same period in the prior year, the company earned $0.04 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. Analysts predict that Pier 1 Imports Inc. will post $0.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 6.56%. Pier 1 Imports’s payout ratio is presently 84.85%.
A number of research analysts have recently commented on the company. BTIG Research assumed coverage on Pier 1 Imports in a research note on Thursday, June 2nd. They issued a neutral rating for the company. Longbow Research assumed coverage on Pier 1 Imports in a research note on Thursday, June 16th. They issued a neutral rating for the company. Wolfe Research upgraded Pier 1 Imports from an underperform rating to a peer perform rating in a research note on Wednesday, June 22nd. Deutsche Bank AG assumed coverage on Pier 1 Imports in a research note on Sunday, June 26th. They issued a sell rating and a $5.50 price target for the company. Finally, Telsey Advisory Group dropped their price target on Pier 1 Imports from $6.00 to $5.00 and set a market perform rating for the company in a research note on Thursday, June 30th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $6.40.
Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Pier 1 Imports by 108.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,130 shares of the company’s stock valued at $18,408,000 after buying an additional 1,862,793 shares during the last quarter. AXA acquired a new position in shares of Pier 1 Imports during the second quarter valued at $1,417,000. Vanguard Group Inc. boosted its position in shares of Pier 1 Imports by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,117,766 shares of the company’s stock valued at $31,445,000 after buying an additional 247,395 shares during the last quarter. TFS Capital LLC boosted its position in shares of Pier 1 Imports by 387.6% in the second quarter. TFS Capital LLC now owns 296,994 shares of the company’s stock valued at $1,527,000 after buying an additional 236,079 shares during the last quarter. Finally, Penn Capital Management Co. Inc. boosted its position in shares of Pier 1 Imports by 22.0% in the second quarter. Penn Capital Management Co. Inc. now owns 1,034,794 shares of the company’s stock valued at $5,319,000 after buying an additional 186,385 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.
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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