Shares of Pitney Bowes (NYSE:PBI) have been given an average rating of “Hold” by the six analysts that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $13.50.
A number of research analysts recently issued reports on the stock. Loop Capital lowered their target price on shares of Pitney Bowes to $10.00 and set a “hold” rating on the stock in a research note on Thursday, May 3rd. ValuEngine lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd.
In related news, insider Marc Bradley Lautenbach purchased 11,100 shares of Pitney Bowes stock in a transaction on Tuesday, May 8th. The stock was purchased at an average cost of $9.02 per share, with a total value of $100,122.00. Following the acquisition, the insider now directly owns 97,860 shares in the company, valued at $882,697.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stanley J. Sutula III purchased 10,000 shares of Pitney Bowes stock in a transaction on Tuesday, May 8th. The stock was bought at an average cost of $8.82 per share, with a total value of $88,200.00. Following the completion of the acquisition, the vice president now owns 10,000 shares in the company, valued at $88,200. The disclosure for this purchase can be found here. 2.01% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Schroder Investment Management Group boosted its holdings in Pitney Bowes by 166.9% in the 4th quarter. Schroder Investment Management Group now owns 5,639,908 shares of the technology company’s stock valued at $63,054,000 after purchasing an additional 3,526,554 shares during the period. LSV Asset Management boosted its holdings in Pitney Bowes by 5.7% in the 1st quarter. LSV Asset Management now owns 5,341,916 shares of the technology company’s stock valued at $58,173,000 after purchasing an additional 289,128 shares during the period. Millennium Management LLC boosted its holdings in Pitney Bowes by 657.3% in the 1st quarter. Millennium Management LLC now owns 4,189,353 shares of the technology company’s stock valued at $45,622,000 after purchasing an additional 3,636,177 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Pitney Bowes by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,583,482 shares of the technology company’s stock valued at $28,134,000 after purchasing an additional 188,611 shares during the period. Finally, Chartwell Investment Partners LLC boosted its holdings in Pitney Bowes by 23.7% in the 4th quarter. Chartwell Investment Partners LLC now owns 1,833,036 shares of the technology company’s stock valued at $20,493,000 after purchasing an additional 350,746 shares during the period. 76.22% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes traded down $0.05, reaching $9.14, during midday trading on Monday, MarketBeat reports. The stock had a trading volume of 1,980,231 shares, compared to its average volume of 2,596,213. Pitney Bowes has a 1-year low of $8.30 and a 1-year high of $16.13. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 15.15. The firm has a market capitalization of $1.72 billion, a PE ratio of 6.76 and a beta of 1.15.
Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, May 2nd. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Pitney Bowes had a net margin of 6.76% and a return on equity of 189.79%. The business had revenue of $983.20 million for the quarter, compared to analyst estimates of $930.38 million. During the same period last year, the business posted $0.36 EPS. Pitney Bowes’s revenue was up 17.5% compared to the same quarter last year. analysts anticipate that Pitney Bowes will post 1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 25th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, May 24th. This represents a $0.75 dividend on an annualized basis and a yield of 8.21%. Pitney Bowes’s payout ratio is presently 53.19%.
About Pitney Bowes
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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