Q4 2017 Earnings Forecast for Pier 1 Imports Inc. (PIR) Issued By Oppenheimer Holdings
Pier 1 Imports Inc. (NYSE:PIR) – Oppenheimer Holdings lowered their Q4 2017 earnings per share estimates for shares of Pier 1 Imports in a research report issued on Thursday. Oppenheimer Holdings analyst B. Nagel now forecasts that the brokerage will post earnings per share of $0.26 for the quarter, down from their previous estimate of $0.28. Oppenheimer Holdings currently has a “Market Perform” rating on the stock.
Several other equities analysts have also recently issued reports on the stock. BTIG Research reissued a “sell” rating and issued a $3.50 price objective on shares of Pier 1 Imports in a research note on Thursday, September 22nd. Wolfe Research raised shares of Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, June 22nd. Telsey Advisory Group dropped their price objective on shares of Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, June 30th. Wedbush reissued an “outperform” rating on shares of Pier 1 Imports in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.30.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.24 on Friday. The company’s 50-day moving average is $4.40 and its 200 day moving average is $5.48. Pier 1 Imports has a 52-week low of $3.73 and a 52-week high of $8.23. The firm has a market capitalization of $341.05 million, a PE ratio of 17.82 and a beta of 1.73.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings data on Wednesday, September 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 quarter in the previous year, the business posted $0.04 earnings per share. Pier 1 Imports’s revenue for the quarter was down 6.7% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued 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 payout ratio is currently 116.67%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacad Investment Ltd. raised its position in shares of Pier 1 Imports by 75.9% in the first quarter. Pacad Investment Ltd. now owns 82,500 shares of the company’s stock valued at $578,000 after buying an additional 35,600 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Pier 1 Imports during the first quarter valued at $330,000. Ngam Advisors L.P. bought a new position in shares of Pier 1 Imports during the first quarter valued at $239,000. 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Pier 1 Imports by 146,013.3% in the first quarter. JPMorgan Chase & Co. now owns 1,317,942 shares of the company’s stock valued at $9,239,000 after buying an additional 1,317,040 shares during the last quarter. Institutional investors and hedge funds 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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