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Published: Sat, July 01, 2017
Economy | By Melissa Porter

Pier 1 Imports Cuts Loss, Sales Slip In Q1

Pier 1 Imports Cuts Loss, Sales Slip In Q1

The firm now has a $6.00 price target on the specialty retailer's stock. Deutsche Bank AG's target price points to a potential downside of 18.86% from the stock's previous close. Pier 1 Imports's payout ratio is 73.69%. Additionally, the company, through certain subsidiaries, operates stores in the United Kingdom under the name The Pier. The Price to Sales (P/S) ratio of the stock is 0.25, while P/B (Price to Book) stands at 1.63.

The stock of Pier 1 Imports Inc (NYSE:PIR) is a huge mover today!

After a recent check, Pier 1 Imports, Inc. Telsey Advisory Group dropped their price target on Pier 1 Imports from $6.00 to $5.00 and set a market perform rating on the stock in a research report on Thursday. Trexquant Investment LP raised its position in Pier 1 Imports by 0.4% in the first quarter. They presently have a $7.25 price target on the specialty retailer's stock. They issued a "reduce" rating and a $6.00 target price for the company.

Gordon Haskett "Upgrades" Pier 1 Imports (NYSE:PIR) in a research note issued to investors on 6/27/17 to Hold with price target of $0. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

Pier 1 Imports on Wednesday said that first quarter same-store sales were basically flat after adjusting for a decline in the Canadian dollar, falling about 1% compared to Q1 a year ago.

Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock. The Return on Equity ratio of Pier 1 Imports, Inc. Beta compares the returns of company stock to return of the market as a whole. Simple moving average analysis helps investors to quickly identify if a security is in an uptrend or downtrend. The specialty retailer reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Past 5 years growth of Pier 1 Imports (NYSE:PIR) observed at -10.77%, looking forward for the next 5 years it has a strong prediction of 10% over growth. Net sales in the quarter fell 2% to $409.5 million from $418.4 million in the year-ago quarter, missing FactSet analysts expectations for a loss of 5 cents per share on revenue of $421 million, according to MarketWatch. During the same period past year, the business posted ($0.07) EPS. The company's revenue was down 2.1% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. The ex-dividend date of this dividend is Monday, July 17th.

Annual Dividend Yield of Pier 1 Imports, Inc.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another site, it was stolen and reposted in violation of United States and worldwide trademark and copyright law. The average analysts gave this company a mean recommendation of 3.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in Pier 1 Imports by 199.2% in the first quarter. Retail Bank Of America De has invested 0% in Pier 1 Imports Inc (NYSE:PIR). Dimensional Fund Advisors LP increased its position in Pier 1 Imports by 34.5% in the first quarter. Sei Investments Co. now owns 62,149 shares of the specialty retailer's stock valued at $445,000 after buying an additional 2,334 shares in the last quarter. The stock had previously closed at $5.38. Acadian Asset Management LLC boosted its stake in Pier 1 Imports by 199.2% in the first quarter. Sei Investments Co. now owns 62,149 shares of the specialty retailer's stock worth $445,000 after buying an additional 2,334 shares during the period. Norges Bank bought a new position in Pier 1 Imports during the fourth quarter valued at approximately $19,158,000.

Considering that Pier 1's play is an omnichannel one, leveraging stores for digital sales and vice versa, those numbers should be better, according to Saunders.

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