Pier 1 Imports (NYSE:PIR) announced its earnings results on Wednesday. The specialty retailer reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.56), RTT News reports. The business had revenue of $413.00 million for the quarter, compared to analysts’ expectations of $455.20 million. Pier 1 Imports had a negative net margin of 3.35% and a negative return on equity of 22.02%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS.
Shares of NYSE PIR opened at $1.11 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.68 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $86.07 million, a P/E ratio of 5.29 and a beta of 1.13. Pier 1 Imports has a 52-week low of $1.00 and a 52-week high of $4.47.
Several hedge funds and other institutional investors have recently made changes to their positions in PIR. Bank of Montreal Can purchased a new stake in shares of Pier 1 Imports in the second quarter valued at approximately $168,000. Canada Pension Plan Investment Board lifted its holdings in Pier 1 Imports by 2,815.4% during the second quarter. Canada Pension Plan Investment Board now owns 3,516,000 shares of the specialty retailer’s stock worth $8,368,000 after buying an additional 3,395,400 shares during the period. Systematic Financial Management LP lifted its holdings in Pier 1 Imports by 14.8% during the second quarter. Systematic Financial Management LP now owns 432,005 shares of the specialty retailer’s stock worth $1,028,000 after buying an additional 55,570 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Pier 1 Imports by 38.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,709,973 shares of the specialty retailer’s stock worth $6,450,000 after buying an additional 749,675 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Pier 1 Imports during the second quarter worth $179,000. Hedge funds and other institutional investors own 67.91% 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.
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