Shares of Pitney Bowes (NYSE:PBI) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $14.50.
PBI has been the subject of several analyst reports. ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Pitney Bowes from a “strong sell” rating to a “hold” rating in a report on Monday, January 8th.
Hedge funds have recently bought and sold shares of the business. KBC Group NV boosted its stake in Pitney Bowes by 50.9% in the 4th quarter. KBC Group NV now owns 494,448 shares of the technology company’s stock worth $5,528,000 after purchasing an additional 166,890 shares during the period. Schroder Investment Management Group boosted its stake 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 worth $63,054,000 after purchasing an additional 3,526,554 shares during the period. Loews Corp bought a new position in Pitney Bowes in the 4th quarter worth approximately $291,000. WINTON GROUP Ltd boosted its stake in Pitney Bowes by 123.5% in the 4th quarter. WINTON GROUP Ltd now owns 160,126 shares of the technology company’s stock worth $1,790,000 after purchasing an additional 88,489 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Pitney Bowes by 8.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,256,432 shares of the technology company’s stock worth $17,603,000 after purchasing an additional 96,368 shares during the period. Institutional investors and hedge funds own 75.63% of the company’s stock.
Pitney Bowes stock traded down $0.01 during midday trading on Thursday, hitting $10.95. The stock had a trading volume of 1,587,594 shares, compared to its average volume of 2,075,013. The firm has a market capitalization of $2,039.64, a price-to-earnings ratio of 7.77 and a beta of 1.13. Pitney Bowes has a 52-week low of $9.50 and a 52-week high of $16.25. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 18.92.
Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, January 31st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Pitney Bowes had a net margin of 7.36% and a return on equity of 388.23%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. analysts predict that Pitney Bowes will post 1.46 EPS for the current year.
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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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