Pitney Bowes Sees Unusually High Options Volume (PBI)

Pitney Bowes Inc. (NYSE:PBI) was the target of some unusual options trading on Thursday. Traders acquired 3,610 call options on the company. This is an increase of approximately 1,344% compared to the average daily volume of 250 call options.

A number of research firms have weighed in on PBI. ValuEngine raised Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Loop Capital reduced their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.50.

Pitney Bowes (PBI) opened at $13.18 on Tuesday. Pitney Bowes has a twelve month low of $9.50 and a twelve month high of $16.60. The company has a current ratio of 1.42, a quick ratio of 1.37 and a debt-to-equity ratio of 35.49. The firm has a market capitalization of $2,460.00, a PE ratio of 28.04 and a beta of 1.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.10). Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The business had revenue of $842.82 million for the quarter, compared to analysts’ expectations of $837.60 million. During the same period in the previous year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. equities research analysts expect that Pitney Bowes will post 1.38 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of Pitney Bowes by 23.1% during the third quarter. Meeder Asset Management Inc. now owns 64,824 shares of the technology company’s stock worth $909,000 after purchasing an additional 12,180 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Pitney Bowes by 50.0% during the second quarter. Gotham Asset Management LLC now owns 398,026 shares of the technology company’s stock worth $6,010,000 after purchasing an additional 132,684 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Pitney Bowes during the third quarter worth about $472,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Pitney Bowes during the third quarter worth about $467,000. Finally, TrueNorth Inc. grew its holdings in shares of Pitney Bowes by 54.6% during the third quarter. TrueNorth Inc. now owns 122,447 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 43,228 shares in the last quarter. 73.67% of the stock is owned by institutional investors.

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Pitney Bowes Company Profile

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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