Written by Rich B. Meier
TopEquityNews.com
Pier 1 Imports, Inc. (PIR) will report earnings after the market closes on Thursday, December 15th.
B rated PIR is expected to earn 21 cents for its 2nd quarter. We expect the decorative home furnishings and gifts retailer to announce earnings that will beat investors’ and analysts’ expectations. The TEN estimate is 22-24 cents – a 1 to 3 cent upside surprise.
Nine of Pier 1’s last quarterly checkups rewarded investors with gains from 2% to nearly 50%. The average return – the 9 times PIR headed north following earnings – is 13.65%. The average loss is 6.7%. That works out to a 2:1 risk to reward ratio – just the way Top Equity likes it.
On the stock chart, we see PIR at a possible breakout point. Shares are bumping up against a multiple top and high around $13.50. A muscular announcement and upbeat management guidance are all that’s needed to propel Pier 1 Imports‘ stock to a 52-week high.
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