Pier 1 ifinance yahoo3/26/2023 Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Over the last four quarters, the company has beaten consensus EPS estimates two times.Īn earnings beat or miss may not be the sole basis for a stock moving higher or lower. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.įor the last reported quarter, it was expected that Pier 1 would post a loss of $0.63 per share when it actually produced a loss of $0.63, delivering no surprise. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, this combination makes it difficult to conclusively predict that Pier 1 will beat the consensus EPS estimate.ĭoes Earnings Surprise History Hold Any Clue? On the other hand, the stock currently carries a Zacks Rank of #2. ![]() This has resulted in an Earnings ESP of 0%. How Have the Numbers Shaped Up for Pier 1?įor Pier 1, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. However, the model's predictive power is significant for positive ESP readings only.Ī positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Target was offering a similar one for $214.Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. On Monday, Pier 1 was selling a tufted velvet armchair for a sale price of $399 on its web site. The company has been trying to streamline its merchandise, improve online sales and draw in younger customers, but it was an uphill climb. The company moved to Texas in 1966 and went public in 1970.īut in recent years, it struggled to draw customers to its often cramped and cluttered stores. Pier 1 was founded in 1962 in California, where it made its name selling incense, beanbag chairs and love beads. ![]() ![]() They've closed stores, they've struggled to find a steady customer base, they've struggled with falling sales," Gavin said. “People have been talking about Pier 1 heading for bankruptcy for a few years now. Ted Gavin, a retail bankruptcy expert and managing partner of the consulting firm Gavin/Solmonese, said he hasn't shopped at Pier 1 in more than a decade. ![]() Riesbeck, an executive with previous corporate turnarounds, joined Pier 1 last summer. “Today's actions are intended to provide Pier 1 with additional time and financial flexibility as we now work to unlock additional value for our stakeholders through a sale of the company,” Pier 1 CEO and Chief Financial Officer Robert Riesbeck said in a statement.
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