Pier 1 Imports Inc (PIR) Expected to Announce Quarterly Sales of $406.87 Million

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.

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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.

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Earnings History and Estimates for Pier 1 Imports (NYSE:PIR)

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