Pier 1 Imports (PIR) Stock Lower Following Earnings Results

NEW YORK (TheStreet) --Shares of Pier 1 Imports (PIR) are down by 1% to $11.89 at the start of trading on Thursday morning, following the release of the home furnishings and décor company's fiscal 2016 first quarter earnings results.

Texas-based Pier 1 posted earnings of 8 cents per share on a 3.1% rise in total sales to $432 million for the most recent quarter.

Revenue however, just missed analysts' forecasts of $434.53 for the fiscal 2016 first quarter.

Last year, Pier 1 Imports said it earned 16 cents per share on revenue of $419.1 million for the fiscal 2015 first quarter.

"We are pleased to deliver earnings per share in line with our expectations, reflecting revenue growth of 3%, as well as careful attention to expense control. E-Commerce continues to perform exceptionally well, generating strong improvement across all performance metrics, and accounting for nearly 17% of total sales in the quarter," company CEO Alex Smith said in a statement.

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."

If you liked this article you might like

Healthcare and Tax Reform Crowd the Final Week of September

Sometimes You Crave 'Junk Food' -- Even When Investing

Sometimes You Crave 'Junk Food'

Fossil Shares Are Crashing, Hard