Other analysts also recently issued reports about the company. 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 on the stock. BTIG Research assumed coverage on Pier 1 Imports in a research note on Thursday, June 2nd. They issued a neutral rating on the stock. Oppenheimer Holdings Inc. downgraded Pier 1 Imports from an outperform rating to a market perform rating in a research note on Thursday, September 8th. Citigroup Inc. downgraded Pier 1 Imports from a strong-buy rating to a market perform rating in a research note on Thursday, September 8th. Finally, Raymond James Financial Inc. downgraded Pier 1 Imports from a strong-buy rating to a market perform rating in a research note on Thursday, September 8th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. Pier 1 Imports has an average rating of Hold and a consensus price target of $6.30.
Shares of Pier 1 Imports (NYSE:PIR) traded up 13.35% during mid-day trading on Wednesday, hitting $4.84. The company’s stock had a trading volume of 8,143,508 shares. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $8.23. The stock has a 50-day moving average of $4.42 and a 200-day moving average of $5.50. The company has a market cap of $395.25 million, a PE ratio of 15.32 and a beta of 1.73.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share for the quarter, meeting the Zacks’ 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 had revenue of $405.80 million for the quarter. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Pier 1 Imports will post $0.26 EPS for the current year.
The company also recently declared 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 dividend payout ratio is presently 84.85%.
Several large investors have recently bought and sold shares of PIR. Pacad Investment Ltd. raised its stake in Pier 1 Imports by 75.9% in the first quarter. Pacad Investment Ltd. now owns 82,500 shares of the company’s stock worth $578,000 after buying an additional 35,600 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Pier 1 Imports during the first quarter worth about $330,000. Ngam Advisors L.P. bought a new stake in Pier 1 Imports during the first quarter worth about $239,000. TIAA CREF Investment Management LLC raised its stake in Pier 1 Imports by 36.1% in the first quarter. TIAA CREF Investment Management LLC now owns 463,781 shares of the company’s stock worth $3,251,000 after buying an additional 123,047 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Pier 1 Imports by 146,013.3% in the first quarter. JPMorgan Chase & Co. now owns 1,317,942 shares of the company’s stock worth $9,239,000 after buying an additional 1,317,040 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.
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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