BTIG Keeps 'Sell' Rating on Pier 1 Imports (PIR); Says Activist Investor Doesn't Change Fundamental Issues

Jefferies Raises price Target on Pier 1 Imports (PIR) Following 2Q Report

Jefferies reiterated a Hold rating on Pier 1 Imports (NYSE: PIR), and raised the price target to $4.50 (from $4.25), following the company's 2Q earnings report. Merchandise margins were in line with guidance on a more balanced promotional posture and improved distribution center efficiency.

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Pier 1 Imports (PIR) Declares $0.07 Quarterly Dividend; 6.6% Yield

Pier 1 Imports (NYSE: PIR) declared a quarterly dividend of $0.07 per share, or $0.28 annualized.

The dividend will be payable on November 2, 2016, to stockholders of record on October 19, 2016, with an ex-dividend date of October 17, 2016.

The annual yield on the dividend is 6.6 percent.

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Pier 1 Imports (PIR) Reports In-Line Q2 EPS; Comps Fall 4.3%

Pier 1 Imports (NYSE: PIR) reported Q2 EPS of ($0.05), in-line with the analyst estimate of ($0.05). Revenue for the quarter came in at $405.8 million versus the consensus estimate of $406.96 million.

Company comparable sales for the quarter decreased 4.3%.

GUIDANCE:

Pier 1 Imports sees Q3 2017 EPS of $0.09-$0.15, versus the consensus of $0.12.

Pier 1 Imports sees Q4 2017 EPS of $0.24-$0.32.

lex W. Smith,... More