Pitney Bowes Inc. (NYSE:PBI) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.70-1.78 for the period, compared to the Thomson Reuters consensus estimate of $1.74.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Pitney Bowes from a hold rating to a buy rating and set a $18.00 price target on the stock in a report on Friday, May 12th. Loop Capital assumed coverage on shares of Pitney Bowes in a report on Friday, July 28th. They issued a hold rating and a $16.00 price target on the stock. Sidoti cut shares of Pitney Bowes from a buy rating to a neutral rating in a report on Monday, May 15th. ValuEngine cut shares of Pitney Bowes from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, BidaskClub cut shares of Pitney Bowes from a buy rating to a hold rating in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $17.50.
Shares of Pitney Bowes Inc. (PBI) opened at 13.26 on Thursday. The firm has a market capitalization of $2.47 billion, a PE ratio of 24.88 and a beta of 1.17. Pitney Bowes Inc. has a 1-year low of $12.31 and a 1-year high of $19.32. The company has a 50-day moving average of $15.30 and a 200-day moving average of $14.40.
Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.03. The firm had revenue of $821.40 million for the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a negative return on equity of 4,441.24% and a net margin of 3.02%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. Equities research analysts predict that Pitney Bowes Inc. will post $1.74 EPS for the current fiscal year.
In other Pitney Bowes news, Director Linda S. Sanford purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $15.09 per share, with a total value of $75,450.00. Following the completion of the acquisition, the director now directly owns 18,690 shares of the company’s stock, valued at approximately $282,032.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.01% of the company’s stock.
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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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