Pier 1 Imports Inc. (NYSE:PIR) – Research analysts at Jefferies Group lifted their Q3 2017 earnings per share (EPS) estimates for Pier 1 Imports in a research note issued on Thursday. Jefferies Group analyst D. Binder now expects that the firm will post earnings of $0.06 per share for the quarter, up from their previous forecast of $0.05. Jefferies Group has a “Hold” rating and a $4.50 price objective on the stock. Jefferies Group also issued estimates for Pier 1 Imports’ Q4 2017 earnings at $0.27 EPS, FY2017 earnings at $0.21 EPS and FY2018 earnings at $0.28 EPS.
Several other equities research analysts also recently commented on the stock. BTIG Research reissued a “sell” rating and set a $3.50 target price on shares of Pier 1 Imports in a research report on Thursday, September 22nd. Wolfe Research raised shares of Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, June 22nd. Telsey Advisory Group decreased their target price on shares of Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, June 30th. Wedbush reissued an “outperform” rating on shares of Pier 1 Imports in a research report on Wednesday, September 28th. Finally, Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.30.
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 consensus estimate of ($0.05). Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The firm earned $405.80 million during the quarter. During the same period last year, the firm posted $0.04 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new stake in Pier 1 Imports during the first quarter worth $118,000. Cubist Systematic Strategies LLC purchased a new stake in Pier 1 Imports during the second quarter worth $117,000. Dynamic Technology Lab Private Ltd purchased a new stake in Pier 1 Imports during the second quarter worth $136,000. Stevens Capital Management LP purchased a new stake in Pier 1 Imports during the second quarter worth $136,000. Finally, Princeton Alpha Management LP purchased a new stake in Pier 1 Imports during the second quarter worth $143,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Monday, October 17th. Pier 1 Imports’s dividend payout ratio (DPR) is presently 116.67%.
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.
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