Shares of Pier 1 Imports Inc. (NYSE:PIR) have been assigned a consensus rating of “Hold” from the twenty-five ratings firms that are presently covering the company. Six research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $6.49.
Several equities analysts recently commented on the company. Guggenheim reissued a “neutral” rating on shares of Pier 1 Imports in a research report on Friday. Credit Suisse Group AG restated a “sell” rating and set a $4.00 price objective on shares of Pier 1 Imports in a report on Thursday. Nomura restated a “buy” rating and set a $8.50 price objective on shares of Pier 1 Imports in a report on Thursday. Jefferies Group restated a “hold” rating and set a $4.50 price objective (up from $4.25) on shares of Pier 1 Imports in a report on Thursday. Finally, BTIG Research restated a “sell” rating and set a $3.50 price objective on shares of Pier 1 Imports in a report on Thursday.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Pier 1 Imports by 356.4% in the second quarter. JPMorgan Chase & Co. now owns 6,015,526 shares of the company’s stock worth $30,920,000 after buying an additional 4,697,584 shares during the period. Numeric Investors LLC raised its position in shares of Pier 1 Imports by 153.2% in the second quarter. Numeric Investors LLC now owns 3,593,202 shares of the company’s stock worth $18,469,000 after buying an additional 2,174,042 shares during the period. Dimensional Fund Advisors LP raised 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 worth $18,408,000 after buying an additional 1,862,793 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Pier 1 Imports during the second quarter worth about $4,193,000. Finally, Bogle Investment Management L P DE acquired a new position in shares of Pier 1 Imports during the first quarter worth about $5,087,000. Institutional investors own 98.63% of the company’s stock.
Pier 1 Imports (NYSE:PIR) opened at 4.24 on Monday. The firm’s 50-day moving average is $4.40 and its 200 day moving average is $5.48. The company has a market cap of $341.05 million, a price-to-earnings ratio of 17.82 and a beta of 1.73. Pier 1 Imports has a 52-week low of $3.73 and a 52-week high of $8.23.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $405.80 million for the quarter. Pier 1 Imports had a return on equity of 7.20% and a net margin of 1.06%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. On average, equities research analysts predict that Pier 1 Imports will post $0.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 6.60%. Pier 1 Imports’s dividend payout ratio (DPR) is presently 116.67%.
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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