Oppenheimer Reiterates Buy Rating for Pier 1 Imports (PIR)

Pier 1 Imports Inc (NYSE:PIR) issued an update on its FY16 earnings guidance on Thursday morning.

Pier 1 Imports Inc (NYSE:PIR) traded down -19.15% on 25 September, hitting $7.01. The Home Furnishing company announced earnings per share of $0.04 against a consensus Street estimate of $0.08, missing estimate by $0.04. Last quarter, Pier 1 Imports, Inc. The 12-month consensus target price for the stock is $13.54, which reflects an upside potential of 78.16% over the current price.

Though we can see some support for PIR around $8-$7 and then around $5 in the chart above, we have, in our 40-plus years of investing, seen many stocks just give it all back. During the same quarter in the prior year, the business posted $0.10 earnings per share. Wolfe Research cut Pier 1 Imports from a “peer perform” rating to an “underperform” rating in a research note on Thursday, June 25th.

There are now eighteen analysts that cover Pier 1 Imports Inc stock. Pier 1 Imports Inc. has a 52 week low of $6.84 and a 52 week high of $17.52. “Looking ahead to fiscal 2017, we expect to expand margins and leverage [selling, general and administrative] expenses, which should allow us to improve EBITDA and earnings per share”. True Bearing Asset Management Lp is another quite bullish investment manager who is having 133,147 shares of Pier 1 Imports Inc. or 2.1% of their USA long stock exposure. Of those eighteen, seven have a Buy rating, eight have a Hold rating and three have a Sell rating.

The firm has a 50 day moving average price of $10.39 and a 200-day moving average price of $12.16. The company has a market cap of $673 million and the number of outstanding shares have been calculated to be 88,376,000 shares.

Total sales increased 2.7% to $430 million and same-store sales increased 2.5%.

During the second quarter of fiscal 2016, the company closed 16 stores and opened six – four of which were relocations – ending the period with 1,053 stores. The ex-dividend date of this dividend is Monday, October 19th. This represents a $0.28 dividend on an annualized basis and a yield of 3.68%. The 52-week high of Pier 1 Imports, Inc. The Company’s operations consist of retail stores and an e-commerce Website running business under the name Pier 1 Imports, which sells a wide selection of gifts, home furnishings, dining and kitchen goods, candles, furniture and other specialty items for the house. The Company manages approximately 984 shops in America, 81 shops in Canada and an ecommerce Website. It manages in all United States and Canadian metropolitan areas and in smaller marketplaces that are principal. The classes of merchandise of the Company’s contain decorative accessories and furniture.