Pitney Bowes Inc. (NYSE:PBI) has been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $17.67.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Friday, May 12th. Loop Capital assumed coverage on shares of Pitney Bowes in a report on Friday, July 28th. They set a “hold” rating and a $16.00 price objective for the company. Sidoti downgraded shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. ValuEngine downgraded shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd.
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In other news, Director Linda S. Sanford acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $15.09 per share, for a total transaction of $75,450.00. Following the transaction, the director now directly owns 18,690 shares in the company, valued at approximately $282,032.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.01% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PBI. Bank of Nova Scotia bought a new position in Pitney Bowes during the first quarter valued at approximately $216,000. Sheaff Brock Investment Advisors LLC boosted its position in Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock valued at $146,000 after buying an additional 500 shares during the last quarter. IFP Advisors Inc boosted its position in Pitney Bowes by 74.4% in the second quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock valued at $170,000 after buying an additional 4,793 shares during the last quarter. Trexquant Investment LP bought a new position in Pitney Bowes during the first quarter valued at approximately $149,000. Finally, Fox Run Management L.L.C. bought a new position in Pitney Bowes during the first quarter valued at approximately $159,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pitney Bowes (PBI) opened at 12.84 on Tuesday. Pitney Bowes has a 12 month low of $12.31 and a 12 month high of $19.10. The company has a 50-day moving average of $15.30 and a 200-day moving average of $14.40. The stock has a market capitalization of $2.41 billion, a PE ratio of 25.23 and a beta of 1.17.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The company had revenue of $821.40 million for the quarter, compared to analyst estimates of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. Pitney Bowes’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. On average, equities research analysts expect that Pitney Bowes will post $1.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 5.84%. Pitney Bowes’s dividend payout ratio is presently 144.23%.
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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