Pier 1 Imports, Inc. (NYSE:PIR) announced a quarterly dividend on Wednesday, September 27th, RTT News reports. Shareholders of record on Wednesday, October 18th will be given a dividend of 0.07 per share by the specialty retailer on Wednesday, November 1st. This represents a $0.28 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend is Tuesday, October 17th.
Pier 1 Imports has raised its dividend payment by an average of 11.9% per year over the last three years and has increased its dividend every year for the last 4 years. Pier 1 Imports has a dividend payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pier 1 Imports to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 63.6%.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.22 on Monday. The stock has a market cap of $342.16 million, a P/E ratio of 10.52 and a beta of 1.69. The firm’s 50 day moving average price is $4.33 and its 200 day moving average price is $5.20. Pier 1 Imports has a 52-week low of $3.96 and a 52-week high of $9.68.
Pier 1 Imports (NYSE:PIR) last issued 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. The business had revenue of $407.61 million for the quarter, compared to analysts’ expectations of $406.32 million. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. On average, analysts expect that Pier 1 Imports will post $0.41 EPS for the current year.
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Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. UBS AG reiterated a “sell” rating and set a $3.50 price target (down previously from $4.00) on shares of Pier 1 Imports in a research note on Saturday, September 30th. Zacks Investment Research cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. Credit Suisse Group reiterated a “sell” rating and set a $4.00 price target on shares of Pier 1 Imports in a research note on Friday, September 29th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $4.20 price target (down previously from $4.60) on shares of Pier 1 Imports in a research note on Thursday, September 28th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. Pier 1 Imports currently has a consensus rating of “Hold” and a consensus target price of $5.01.
Pier 1 Imports Company Profile
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.
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