BTIG Affirms Pier 1 (PIR) at 'Neutral' Following Q1 Results; Remains Cautious Over Near-Term Time Frame

BTIG affirms Pier 1 Imports (NYSE: PIR) with a Neutral rating following Q1 results and lowered outlook issued late Wednesday.

Analyst Alan Rifkin offered the following commentary on Thursday: Our former FY2016 EPS estimate of $0.39 was below previous guidance of $0.42 - $0.50 and a nickel below the Street estimate of $0.44. We are further reducing our 2016 and 2017 EPS estimates to $0.30 (prev. $0.39) and $0.42 (prev. $0.48), respectively. We remain negative on the home furnishings space given online competition, pressure on margins as brick & mortar comps slide, and tepid consumer spending. We are cautious on PIR nearterm until business trends improve, margins stabilize and comps show improvement.

For an analyst ratings summary and ratings history on Pier 1 Imports click here. For more ratings news on Pier 1 Imports click here.

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