KeyCorp Equities Analysts Cut Earnings Estimates for Pier 1 Imports, Inc. (PIR)

Pier 1 Imports, Inc. (NYSE:PIR) – Stock analysts at KeyCorp decreased their FY2018 earnings estimates for Pier 1 Imports in a research report issued to clients and investors on Wednesday. KeyCorp analyst B. Thomas now anticipates that the specialty retailer will earn $0.42 per share for the year, down from their prior estimate of $0.50. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Pier 1 Imports’ Q4 2018 earnings at $0.40 EPS and FY2019 earnings at $0.46 EPS.

Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The business had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. During the same period in the prior year, the company posted ($0.05) EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year.

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Several other brokerages have also commented on PIR. Telsey Advisory Group dropped their price objective on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, June 29th. ValuEngine lowered Pier 1 Imports from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Jefferies Group LLC dropped their price objective on Pier 1 Imports from $7.25 to $5.90 and set a “hold” rating on the stock in a report on Friday, June 30th. Gordon Haskett raised Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 price objective on the stock in a report on Tuesday, June 27th. Finally, Morgan Stanley dropped their price objective on Pier 1 Imports from $5.00 to $4.60 and set an “underweight” rating on the stock in a report on Thursday. Seven equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $5.17.

Pier 1 Imports (PIR) opened at 4.19 on Friday. The company has a market capitalization of $339.73 million, a P/E ratio of 10.45 and a beta of 1.69. Pier 1 Imports has a 1-year low of $3.96 and a 1-year high of $9.68. The firm has a 50-day moving average price of $4.37 and a 200 day moving average price of $5.55.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date is Tuesday, October 17th. Pier 1 Imports’s dividend payout ratio (DPR) is currently 77.78%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in Pier 1 Imports by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 64,436 shares of the specialty retailer’s stock worth $335,000 after buying an additional 326 shares during the last quarter. Rhumbline Advisers boosted its stake in Pier 1 Imports by 0.5% during the second quarter. Rhumbline Advisers now owns 107,812 shares of the specialty retailer’s stock worth $560,000 after buying an additional 491 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Pier 1 Imports by 1.0% during the first quarter. Dynamic Technology Lab Private Ltd now owns 64,496 shares of the specialty retailer’s stock worth $462,000 after buying an additional 644 shares during the last quarter. NGAM Advisors L.P. boosted its stake in Pier 1 Imports by 3.5% during the second quarter. NGAM Advisors L.P. now owns 41,971 shares of the specialty retailer’s stock worth $218,000 after buying an additional 1,404 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Pier 1 Imports by 4.4% during the second quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock worth $194,000 after buying an additional 1,583 shares during the last quarter. 82.76% of the stock is currently owned by institutional investors.

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.

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

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