Pier 1 Imports Inc. (NYSE:PIR) – Analysts at SunTrust Banks lowered their Q3 2017 earnings estimates for Pier 1 Imports in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst D. Magee now expects that the firm will earn $0.12 per share for the quarter, down from their previous forecast of $0.14. SunTrust Banks also issued estimates for Pier 1 Imports’ Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.28 EPS and FY2018 earnings at $0.40 EPS.
A number of other equities research analysts have also issued reports on PIR. Deutsche Bank AG began 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 and set a $3.50 price objective on shares of Pier 1 Imports in a report on Thursday. Oppenheimer Holdings Inc. lowered shares of Pier 1 Imports from an “outperform” rating to a “market perform” rating in a report on Thursday, September 8th. Guggenheim reaffirmed a “neutral” rating on shares of Pier 1 Imports in a report on Friday. Finally, Citigroup Inc. lowered shares of Pier 1 Imports from a “strong-buy” rating to a “market perform” rating in a report on Thursday, September 8th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.30.
Shares of Pier 1 Imports (NYSE:PIR) traded down 5.15% during midday trading on Friday, hitting $4.24. 4,421,295 shares of the stock were exchanged. Pier 1 Imports has a 52-week low of $3.73 and a 52-week high of $8.23. The firm has a market cap of $341.05 million, a PE ratio of 17.82 and a beta of 1.73. The firm’s 50-day moving average is $4.40 and its 200 day moving average is $5.48.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings data on Wednesday, September 28th. The company reported ($0.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm earned $405.80 million during the quarter. Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 6.60%. Pier 1 Imports’s dividend payout ratio is currently 116.67%.
Several institutional investors have recently made changes to their positions in PIR. TIAA CREF Investment Management LLC raised its position in shares of 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 valued at $3,251,000 after buying an additional 123,047 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Pier 1 Imports during the first quarter valued at approximately $118,000. Aristotle Capital Boston LLC raised its position in shares of Pier 1 Imports by 3.0% in the second quarter. Aristotle Capital Boston LLC now owns 410,748 shares of the company’s stock valued at $2,111,000 after buying an additional 12,139 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Pier 1 Imports during the second quarter valued at approximately $3,376,000. Finally, Skyline Asset Management LP raised its position in shares of Pier 1 Imports by 3.9% in the first quarter. Skyline Asset Management LP now owns 2,360,400 shares of the company’s stock valued at $16,546,000 after buying an additional 87,700 shares in the last quarter. Hedge funds and other institutional investors 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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