Wall Street brokerages expect Pier 1 Imports Inc (NYSE:PIR) to announce $375.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Pier 1 Imports’ earnings, with the highest sales estimate coming in at $376.00 million and the lowest estimate coming in at $375.00 million. Pier 1 Imports posted sales of $407.61 million in the same quarter last year, which suggests a negative year over year growth rate of 7.9%. The firm is scheduled to report its next earnings report on Wednesday, September 26th.

According to Zacks, analysts expect that Pier 1 Imports will report full-year sales of $1.76 billion for the current fiscal year, with estimates ranging from $1.74 billion to $1.77 billion. For the next financial year, analysts forecast that the firm will report sales of $1.80 billion per share, with estimates ranging from $1.77 billion to $1.82 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Pier 1 Imports.

Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, June 27th. The specialty retailer reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.03. Pier 1 Imports had a negative net margin of 0.79% and a negative return on equity of 3.26%. The firm had revenue of $371.90 million during the quarter, compared to the consensus estimate of $375.45 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue was down 9.2% compared to the same quarter last year.

PIR has been the subject of several recent research reports. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine downgraded shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. Citigroup decreased 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 report on Thursday, June 28th. TheStreet downgraded shares of Pier 1 Imports from a “c-” rating to a “d” rating in a research report on Wednesday, June 27th. Finally, Wedbush decreased their target price on shares of Pier 1 Imports from $3.00 to $2.25 and set a “neutral” rating for the company in a research report on Friday, June 29th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Pier 1 Imports presently has a consensus rating of “Hold” and a consensus price target of $3.21.

PIR traded up $0.02 during midday trading on Monday, hitting $1.71. The company had a trading volume of 1,669,800 shares, compared to its average volume of 1,590,360. The company has a current ratio of 2.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.77. The company has a market cap of $155.07 million, a P/E ratio of 8.10 and a beta of 1.47. Pier 1 Imports has a 52 week low of $1.66 and a 52 week high of $5.92.

A number of hedge funds have recently modified their holdings of the business. Towle & Co. grew its position in Pier 1 Imports by 24.4% in the 2nd quarter. Towle & Co. now owns 10,901,645 shares of the specialty retailer’s stock worth $25,946,000 after purchasing an additional 2,136,230 shares in the last quarter. BlackRock Inc. grew its position in Pier 1 Imports by 4.6% in the 2nd quarter. BlackRock Inc. now owns 5,704,183 shares of the specialty retailer’s stock worth $13,576,000 after purchasing an additional 252,807 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Pier 1 Imports by 2,815.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,516,000 shares of the specialty retailer’s stock worth $8,368,000 after purchasing an additional 3,395,400 shares in the last quarter. Contrarius Investment Management Ltd boosted its stake in Pier 1 Imports by 39.7% in the second quarter. Contrarius Investment Management Ltd now owns 2,886,045 shares of the specialty retailer’s stock valued at $6,869,000 after acquiring an additional 820,004 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Pier 1 Imports by 38.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,709,973 shares of the specialty retailer’s stock valued at $6,450,000 after acquiring an additional 749,675 shares during the last quarter. 74.38% of the stock is owned by institutional investors and hedge funds.

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

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