Wall Street brokerages predict that Pier 1 Imports Inc (NYSE:PIR) will announce $406.87 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Pier 1 Imports’ earnings, with the lowest sales estimate coming in at $404.79 million and the highest estimate coming in at $409.90 million. Pier 1 Imports posted sales of $405.82 million during the same quarter last year, which suggests a positive year over year growth rate of 0.3%. The business is expected to announce its next earnings results on Wednesday, September 27th.
According to Zacks, analysts expect that Pier 1 Imports will report full-year sales of $406.87 million for the current fiscal year, with estimates ranging from $1.84 billion to $1.86 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.83 billion per share, with estimates ranging from $1.80 billion to $1.86 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Pier 1 Imports had a negative net margin of 0.73% and a negative return on equity of 4.18%. The company had revenue of $409.50 million for the quarter, compared to the consensus estimate of $420.80 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year.
PIR has been the subject of a number of recent research reports. Telsey Advisory Group reduced 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 29th. Jefferies Group LLC reduced their target price on shares of Pier 1 Imports from $7.25 to $5.90 and set a “hold” rating for the company in a research report on Friday, June 30th. Gordon Haskett upgraded shares of Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 target price for the company in a research report on Tuesday, June 27th. CIBC reiterated a “hold” rating on shares of Pier 1 Imports in a research report on Monday, April 17th. Finally, Zacks Investment Research cut shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Pier 1 Imports currently has an average rating of “Hold” and a consensus target price of $5.97.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Alambic Investment Management L.P. bought a new position in shares of Pier 1 Imports during the first quarter valued at $104,000. Jane Street Group LLC raised its position in shares of Pier 1 Imports by 29.0% in the first quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock valued at $154,000 after buying an additional 4,853 shares during the period. Airain ltd bought a new position in shares of Pier 1 Imports during the first quarter valued at $159,000. Teza Capital Management LLC bought a new position in shares of Pier 1 Imports during the first quarter valued at $167,000. Finally, Koch Industries Inc. bought a new position in shares of Pier 1 Imports during the first quarter valued at $171,000. 87.13% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Pier 1 Imports Inc (PIR) Expected to Announce Quarterly Sales of $406.87 Million” was published by WKRB News and is the sole property of of WKRB News. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.wkrb13.com/markets/2286473/pier-1-imports-inc-pir-expected-to-announce-quarterly-sales-of-406-87-million.html.
Pier 1 Imports (NYSE PIR) traded up 0.22% on Friday, reaching $4.65. 2,423,753 shares of the company’s stock traded hands. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $9.68. The stock has a 50 day moving average price of $5.38 and a 200 day moving average price of $6.85. The stock has a market cap of $377.02 million, a price-to-earnings ratio of 11.60 and a beta of 1.72.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Monday, July 17th. Pier 1 Imports’s dividend payout ratio is currently 68.29%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2286473/pier-1-imports-inc-pir-expected-to-announce-quarterly-sales-of-406-87-million.html
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.