Earnings

Earnings Roundup: Pier 1 Imports Inc (NYSE:PIR)

Shares of Pier 1 Imports Inc (NYSE:PIR) fell -0.46% to reach at $6.48 during previous trading session. The company has experienced volume of 3,306,900 shares while on average the company has a capacity of trading 2.39M share.

Pier 1 Imports Inc (NYSE:PIR) on December 15, 2016 reported financial results for the third quarter ended November 26, 2016.

Third Quarter Financial Highlights:

  • Company comparable sales increased 1.8%; Net sales decreased 0.4%;
  • E-Commerce sales grew approximately 28% to $97.4 million, representing approximately 20% of net sales;
  • Gross profit as a percentage of net sales increased 280 basis points to 41.3%; and
  • Earnings per share of $0.17 and adjusted earnings per share of $0.22 compared to earnings per share of $0.13 in the third quarter of fiscal 2016.

Third Quarter Fiscal 2017 Results of Operations:

Net sales for the third quarter of fiscal 2017 decreased 0.4% to $475.9 million, compared to $478.0 million in the same period last year. At the end of the third quarter of fiscal 2017 the Company operated 33 fewer stores than at the end of the third quarter of fiscal 2016. Company comparable sales for the quarter increased 1.8% from the prior year. E-Commerce sales totaled $97.4 million, representing year-over-year growth of approximately 28%. E-Commerce represented approximately 20% of net sales in the third quarter, as compared to approximately 16% of net sales in the third quarter of fiscal 2016.

Gross profit for the third quarter of fiscal 2017 totaled $196.4 million, or 41.3% of net sales, compared to $184.0 million, or 38.5% of net sales, in the third quarter of fiscal 2016. Third quarter merchandise margin (the result of adding back delivery and fulfillment net costs and store occupancy costs to gross profit) totaled $286.4 million, or 60.2% of net sales, compared to $268.6 million, or 56.2% of net sales, in the third quarter of fiscal 2016. The year-over-year improvement in merchandise margin as a percentage of net sales is primarily attributable to a more cost efficient promotional strategy and improved operations within the Company’s distribution centers. For the three months ended November 26, 2016, contribution from operations (gross profit less compensation for operations and operational expenses) totaled $111.4 million, compared to $97.6 million during the same period last year. As a percentage of net sales, contribution from operations increased 300 basis points to 23.4% in the third quarter of fiscal 2017.

Pier 1 Imports Inc (NYSE:PIR) holds the market capitalization of $527.86M along with 83.09M outstanding shares. During the last trade, stock’s minimum price has been reached out at $6.42 while the maximum trading price moved at $6.66. Currently the stock price is moving -12.34% off from the highest level of twelve months and +79.52% above from twelve months low. Pier 1 Imports Inc (NYSE:PIR) marked 52-week highest price level of $7.39 on 04/13/16 and 52-week lowest price level of $3.61 on 09/12/16. For the stock, price target value has been calculated at $4.55 based on calls of 11 experts. Stock’s minimum price target estimates has been figured out at $2.80 while the maximum price target forecast is established at $8.50.

As of current trade, Pier 1 Imports Inc (NYSE:PIR) has shown weekly downbeat performance of -0.31%. Its six months performance indicated a bullish movement while its yearly performance reflected a positive trend of 19.94%. Year-to-date (YTD) performance of the stock illustrate upbeat downbeat trend of 34.79%. Shares of Pier 1 Imports Inc (NYSE:PIR) currently have an ABR of 3.33, derived from a total of 13 opinions. The company’s price sits 26.09% above from its 50-day moving average of $5.51 and 22.28% above from the stock’s 200-day moving average of $5.01. The company has Relative Strength Index (RSI 14) of 65.12 along with Average True Range (ATR 14) of 0.33. Its weekly and monthly volatility is 4.36%, 5.39% respectively. The company’s beta value is at 1.77.

Pier 1 Imports Inc (NYSE:PIR)’s P/E ratio is 27.69. The company’s price to sales ratio for trailing twelve months is 0.29 and price to book ratio for most recent quarter is 2.02, whereas price to cash per share for the most recent quarter is 14.10. Pier 1 Imports Inc (NYSE:PIR)’s price to free cash flow for trailing twelve months is 7.55. Its quick ratio for most recent quarter is 0.40 along with current ratio for most recent quarter of 2.20. Total debt to equity ratio of the company for most recent quarter is 0.86 whereas long term debt to equity ratio for most recent quarter is 0.77. Pier 1 Imports Inc (NYSE:PIR) has a Return on Assets of 2.30%. The company currently has a Return on Equity of 7.20% and Return on Investment of 10.60%.

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