NEW YORK (TheStreet) -- Pier 1 Imports Inc. (PIR) is scheduled to report its fiscal 2016 first quarter earnings results after the market close on Wednesday afternoon. Analysts are expecting the home furnishings and décor company to post a year-over-year decline in earnings and a rise in revenue for the most recent quarter.
The company has been forecast to report earnings of 8 cents per share on revenue of $434.53 million for the most recent quarter.
Last year Pier 1 Imports said it earned 16 cents per share on total sales of $419.1 million for the fiscal 2015 first quarter.
Shares of Pier 1 Imports closed lower by 0.74% to $12.15 on heavy volume on Tuesday afternoon.
By the close of trading today 3.33 million shares of Pier 1 Imports had exchanged hands as compared to its average daily volume of 2.47 million shares.
Separately, TheStreet Ratings team rates PIER 1 IMPORTS INC/DE as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PIER 1 IMPORTS INC/DE (PIR) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself."