Falling Earnings Estimates Signal Weakness Ahead For Pier 1 Imports (PIR)

By Zacks Investment ResearchStock MarketsDec 19, 2017 08:41PM ET

www.investing.com/analysis/falling-earnings-estimates-signal-weakness-ahead-for-pier-1-imports-pir-200274749

Falling Earnings Estimates Signal Weakness Ahead For Pier 1 Imports (PIR)

By Zacks Investment Research | Dec 19, 2017 08:41PM ET

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Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.

One such stock that you may want to consider dropping is Pier 1 Imports, Inc. (NYSE:PIR) , which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in PIR.

A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen five estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from 43 cents a share a month ago to its current level of 24 cents.

Also, for the current quarter, Pier 1 Imports has seen five downward estimate revisions versus no revisions in the opposite direction, dragging the consensus estimate down to 23 cents a share from 40 cents over the past 30 days.

The stock has also seen some pretty dismal trading lately, as the share price has dropped 7.6% in the past month.

Pier 1 Imports, Inc. Price and Consensus

Pier 1 Imports, Inc. Price and Consensus | Pier 1 Imports, Inc. Quote

So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.

If you are still interested in the Retail - Home Furnishings industry, you may instead consider a better-ranked stock - At Home Group Inc. (NYSE:HOME) . The stock currently carries a Zacks Rank #2 (Buy) and may be a better selection at this time. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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At Home Group Inc. (HOME): Free Stock Analysis Report

Pier 1 Imports, Inc. (PIR): Free Stock Analysis Report

Original post

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Falling Earnings Estimates Signal Weakness Ahead For Pier 1 Imports (PIR)

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