Pier 1 Imports Inc. (PIR) to Issue Quarterly Dividend of $0.07 on November 2nd
Pier 1 Imports Inc. (NYSE:PIR) declared a quarterly dividend on Wednesday, September 28th. Investors of record on Wednesday, October 19th will be paid a dividend of 0.07 per share on Wednesday, November 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date is Monday, October 17th.
Pier 1 Imports (NYSE:PIR) opened at 4.35 on Friday. Pier 1 Imports has a one year low of $3.73 and a one year high of $8.23. The company’s 50-day moving average is $4.32 and its 200-day moving average is $5.34. The firm has a market cap of $349.90 million, a PE ratio of 18.28 and a beta of 1.82.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings data on Wednesday, September 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $405.80 million for the quarter. Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, analysts forecast that Pier 1 Imports will post $0.24 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in shares of Pier 1 Imports during the second quarter valued at $117,000. Stevens Capital Management LP bought a new position in shares of Pier 1 Imports during the second quarter valued at $136,000. BlackRock Inc. boosted its position in shares of Pier 1 Imports by 341.1% in the second quarter. BlackRock Inc. now owns 33,739 shares of the company’s stock valued at $173,000 after buying an additional 26,090 shares during the period. KCG Holdings Inc. bought a new position in shares of Pier 1 Imports during the second quarter valued at $180,000. Finally, BlackRock Advisors LLC boosted its position in shares of Pier 1 Imports by 3.9% in the second quarter. BlackRock Advisors LLC now owns 40,719 shares of the company’s stock valued at $209,000 after buying an additional 1,520 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.
PIR has been the subject of a number of research reports. Wolfe Research raised shares of Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a report on Wednesday, June 22nd. Deutsche Bank AG initiated coverage on shares of Pier 1 Imports in a report on Sunday, June 26th. They issued a “sell” rating and a $5.50 target price for the company. Telsey Advisory Group dropped 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 report on Thursday, June 30th. Wedbush reissued a “neutral” rating and issued a $5.00 target price (down previously from $6.00) on shares of Pier 1 Imports in a report on Thursday, June 30th. Finally, BTIG Research reissued a “neutral” rating on shares of Pier 1 Imports in a report on Thursday, June 30th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.30.
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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