Pier 1 Imports Inc. (NYSE:PIR) released its quarterly earnings results on Wednesday. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm earned $405.80 million during the quarter. Pier 1 Imports had a net margin of 1.44% and a return on equity of 9.60%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. Pier 1 Imports updated its Q3 guidance to $0.09-0.15 EPS and its Q4 guidance to $0.24-0.32 EPS.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.47 on Friday. Pier 1 Imports has a one year low of $3.73 and a one year high of $8.23. The firm has a 50-day moving average of $4.41 and a 200-day moving average of $5.49. The stock has a market cap of $365.03 million, a PE ratio of 14.15 and a beta of 1.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Monday, October 17th. Pier 1 Imports’s dividend payout ratio (DPR) is presently 84.85%.
A number of analysts have recently issued reports on PIR shares. Jefferies Group reaffirmed a “hold” rating and set a $4.50 price objective on shares of Pier 1 Imports in a report on Thursday. Deutsche Bank AG started coverage on shares of Pier 1 Imports in a report on Sunday, June 26th. They set a “sell” rating and a $5.50 price objective for the company. BTIG Research reaffirmed a “sell” rating on shares of Pier 1 Imports in a report on Thursday. Zacks Investment Research downgraded shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Saturday, September 10th. Finally, Credit Suisse Group AG downgraded shares of Pier 1 Imports from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $4.50 to $4.00 in a report on Thursday, September 8th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.30.
Several large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in Pier 1 Imports during the second quarter valued at about $117,000. Bayesian Capital Management LP purchased a new stake in Pier 1 Imports during the first quarter valued at about $118,000. Dynamic Technology Lab Private Ltd purchased a new stake in Pier 1 Imports during the second quarter valued at about $136,000. Stevens Capital Management LP purchased a new stake in Pier 1 Imports during the second quarter valued at about $136,000. Finally, Princeton Alpha Management LP purchased a new stake in Pier 1 Imports during the second quarter valued at about $143,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.
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.
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.