Brokerages expect Pier 1 Imports Inc (NYSE:PIR) to announce $377.60 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Pier 1 Imports’ earnings. The lowest sales estimate is $375.00 million and the highest is $381.80 million. Pier 1 Imports reported sales of $407.61 million in the same quarter last year, which indicates a negative year-over-year growth rate of 7.4%. The business is expected to report its next earnings results on Wednesday, September 26th.
On average, analysts expect that Pier 1 Imports will report full-year sales of $1.77 billion for the current financial year, with estimates ranging from $1.74 billion to $1.81 billion. For the next year, analysts forecast that the company will post sales of $1.80 billion per share, with estimates ranging from $1.77 billion to $1.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Pier 1 Imports.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, June 27th. The specialty retailer reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. The business had revenue of $371.90 million during the quarter, compared to analysts’ expectations of $375.45 million. Pier 1 Imports had a negative net margin of 0.79% and a negative return on equity of 3.26%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share.
A number of research firms have recently commented on PIR. Wedbush reissued a “neutral” rating on shares of Pier 1 Imports in a research note on Monday, April 16th. Citigroup cut their target price on shares of Pier 1 Imports from $3.20 to $3.10 and set a “neutral” rating for the company in a research note on Thursday, June 28th. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Morgan Stanley dropped their price objective on shares of Pier 1 Imports from $3.50 to $2.25 and set an “underweight” rating for the company in a research note on Friday, April 20th. Finally, Telsey Advisory Group dropped their price objective on shares of Pier 1 Imports from $4.00 to $3.50 and set a “market perform” rating for the company in a research note on Friday, April 20th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $3.48.
Large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in Pier 1 Imports by 21.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,960,298 shares of the specialty retailer’s stock valued at $6,313,000 after purchasing an additional 350,217 shares during the last quarter. Towle & Co. boosted its holdings in Pier 1 Imports by 78.8% in the 1st quarter. Towle & Co. now owns 8,765,415 shares of the specialty retailer’s stock valued at $28,225,000 after purchasing an additional 3,863,625 shares during the last quarter. BlackRock Inc. boosted its holdings in Pier 1 Imports by 0.5% in the 4th quarter. BlackRock Inc. now owns 5,600,050 shares of the specialty retailer’s stock valued at $23,184,000 after purchasing an additional 26,539 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Pier 1 Imports in the 1st quarter worth approximately $2,355,000. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Pier 1 Imports by 33.1% in the 1st quarter. Wedge Capital Management L L P NC now owns 92,895 shares of the specialty retailer’s stock worth $299,000 after acquiring an additional 23,089 shares during the last quarter. Institutional investors own 73.18% of the company’s stock.
Shares of PIR stock traded down $0.14 on Tuesday, reaching $1.99. 1,822,121 shares of the company were exchanged, compared to its average volume of 863,292. The stock has a market capitalization of $182.49 million, a P/E ratio of 9.48 and a beta of 1.53. The company has a quick ratio of 0.86, a current ratio of 2.11 and a debt-to-equity ratio of 0.77. Pier 1 Imports has a 1 year low of $1.98 and a 1 year high of $5.92.
About Pier 1 Imports
Pier 1 Imports, Inc engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. It offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrances, gifts, and seasonal items; and furniture and furniture cushions that are used in living, dining, office, kitchen and bedroom areas, sunrooms, and patios.
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