Pier 1 Imports (PIR) Announces Quarterly Earnings Results, Misses Estimates By $0.63 EPS

Pier 1 Imports (NYSE:PIR) issued its quarterly earnings results on Wednesday, April 17th. The specialty retailer reported ($0.85) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.63), Bloomberg Earnings reports. Pier 1 Imports had a negative return on equity of 111.92% and a negative net margin of 12.80%. The firm had revenue of $412.51 million during the quarter.

NYSE:PIR traded down $0.05 on Friday, reaching $0.90. The company’s stock had a trading volume of 2,069,267 shares, compared to its average volume of 4,753,645. Pier 1 Imports has a 12-month low of $0.28 and a 12-month high of $3.14. The company has a quick ratio of 0.47, a current ratio of 1.76 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $80.78 million, a P/E ratio of -0.37 and a beta of 4.19.

A number of equities analysts recently commented on the company. ValuEngine upgraded Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research downgraded Pier 1 Imports from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 19th. Finally, Gordon Haskett downgraded Pier 1 Imports from a “hold” rating to an “underperform” rating in a research report on Thursday, March 21st. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $1.44.

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in Pier 1 Imports by 1,382.1% in the third quarter. AQR Capital Management LLC now owns 782,962 shares of the specialty retailer’s stock valued at $1,174,000 after purchasing an additional 730,133 shares during the period. BlackRock Inc. raised its position in Pier 1 Imports by 2.7% in the fourth quarter. BlackRock Inc. now owns 5,511,193 shares of the specialty retailer’s stock valued at $1,686,000 after purchasing an additional 142,741 shares during the period. Vanguard Group Inc. raised its position in Pier 1 Imports by 8.5% in the third quarter. Vanguard Group Inc. now owns 3,858,116 shares of the specialty retailer’s stock valued at $5,787,000 after purchasing an additional 303,225 shares during the period. Renaissance Technologies LLC raised its position in Pier 1 Imports by 59.9% in the third quarter. Renaissance Technologies LLC now owns 2,320,300 shares of the specialty retailer’s stock valued at $3,480,000 after purchasing an additional 869,400 shares during the period. Finally, Vanguard Group Inc raised its position in Pier 1 Imports by 8.5% in the third quarter. Vanguard Group Inc now owns 3,858,116 shares of the specialty retailer’s stock valued at $5,787,000 after purchasing an additional 303,225 shares during the period. Institutional investors own 48.49% of the company’s stock.

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Pier 1 Imports Company Profile

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.

See Also: Retained Earnings

Earnings History for Pier 1 Imports (NYSE:PIR)

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