Shares of Pitney Bowes Inc. (NYSE:PBI) have earned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $14.50.
A number of research firms have issued reports on PBI. Zacks Investment Research downgraded Pitney Bowes from a “hold” rating to a “strong sell” rating in a research report on Monday, November 6th. Loop Capital reduced their price target on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, November 2nd. Finally, ValuEngine upgraded Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd.
Several hedge funds and other institutional investors have recently made changes to their positions in PBI. Russell Investments Group Ltd. grew its position in shares of Pitney Bowes by 27.0% in the second quarter. Russell Investments Group Ltd. now owns 59,138 shares of the technology company’s stock valued at $895,000 after purchasing an additional 12,566 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Pitney Bowes by 13.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 880,997 shares of the technology company’s stock valued at $13,304,000 after purchasing an additional 102,102 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pitney Bowes by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after purchasing an additional 748 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Pitney Bowes by 3.3% in the second quarter. Principal Financial Group Inc. now owns 789,909 shares of the technology company’s stock valued at $11,928,000 after purchasing an additional 24,959 shares in the last quarter. Finally, Swiss National Bank grew its position in Pitney Bowes by 1.7% during the second quarter. Swiss National Bank now owns 310,500 shares of the technology company’s stock worth $4,689,000 after buying an additional 5,200 shares in the last quarter. Institutional investors own 73.74% of the company’s stock.
Pitney Bowes (PBI) traded down $0.18 during trading hours on Tuesday, reaching $13.18. The company’s stock had a trading volume of 4,301,942 shares, compared to its average volume of 2,320,000. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 35.49. Pitney Bowes has a twelve month low of $9.50 and a twelve month high of $16.60. The stock has a market capitalization of $2,460.00, a P/E ratio of 28.04 and a beta of 1.11.
Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, November 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $842.82 million during the quarter, compared to analysts’ expectations of $837.60 million. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. analysts forecast that Pitney Bowes will post 1.38 EPS for the current year.
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About Pitney Bowes
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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