NEW YORK (TheStreet) -- Shares of Pier 1 Imports were gaining 10.2% to $13.94 on heavy trading volume Thursday after the retailer beat analysts' estimates for earnings in the fiscal fourth quarter. Pier 1 Imports reported earnings of 39 cents a share for the fiscal fourth quarter, above analysts' estimates of 36 cents a share. Revenue grew 5.4% year over year to $543.6 million for the quarter that were below analysts' estimates of $548.71 million. Looking to fiscal year 2016, Pier 1 Imports said it expects earnings of 83 cents to 87 cents a share, below analysts' estimates of 90 cents a share for the fiscal year. The retailer also raised its quarterly dividend to 7 cents a share from 6 cents a share. The new dividend will be payable on May 6 to all shareholders of record as of the close of business on April 22. The ex-dividend date is set for April 20. About 4.4 million shares of Pier 1 Imports were traded by 10:32 a.m. Thursday, above the company's average trading volume of about 2.8 million shares a day. 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, reasonable 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 feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow." You can view the full analysis from the report here: PIR Ratings Report PIR data by YCharts Must Read: Warren Buffett's Top 25 Stocks for 2015
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