Pitney Bowes (NYSE:PBI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Pitney Bowes provides mail processing equipment and integrated mail solutions. The company’s efforts to transform its business and optimize its new enterprise business platform to boost profitability hold promise. This apart, the thriving global ecommerce business and new product launches are anticipated to bolster the top line. Nonetheless, as the company continues to transform its portfolio and make necessary investments to boost sales, it expects pressure on margins at least in the near term. Changing business mix is also likely to impact the bottom line adversely. The shares of the company have underperformed the industry in the past year. Moreover, adverse changes in postal regulations across key markets and intensifying competition may also affect profitability negatively.”
A number of other equities research analysts have also recently issued reports on PBI. ValuEngine cut shares of Pitney Bowes from a “sell” rating to a “strong sell” rating in a research report on Monday. Loop Capital dropped their target price on shares of Pitney Bowes to $10.00 and set a “hold” rating for the company in a research report on Thursday, May 3rd. Finally, Maxim Group assumed coverage on shares of Pitney Bowes in a research report on Thursday, May 31st. They set a “buy” rating and a $12.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.00.
Shares of Pitney Bowes opened at $8.86 on Tuesday, Marketbeat reports. Pitney Bowes has a 52-week low of $8.11 and a 52-week high of $16.13. The firm has a market capitalization of $1.62 billion, a PE ratio of 6.28 and a beta of 1.12. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 15.15.
Pitney Bowes (NYSE:PBI) last announced its earnings results on Wednesday, May 2nd. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $983.20 million during the quarter, compared to analysts’ expectations of $930.38 million. Pitney Bowes had a net margin of 6.76% and a return on equity of 189.79%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. equities research analysts forecast that Pitney Bowes will post 1.18 earnings per share for the current year.
In related news, VP Stanley J. Sutula III acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were purchased at an average price of $8.82 per share, with a total value of $88,200.00. Following the acquisition, the vice president now directly owns 10,000 shares in the company, valued at $88,200. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Marc Bradley Lautenbach acquired 11,100 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were bought at an average cost of $9.02 per share, for a total transaction of $100,122.00. Following the acquisition, the insider now owns 97,860 shares in the company, valued at $882,697.20. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.
A number of large investors have recently modified their holdings of PBI. Point72 Asia Hong Kong Ltd bought a new stake in Pitney Bowes during the 1st quarter worth about $132,000. Element Capital Management LLC bought a new stake in Pitney Bowes during the 1st quarter worth about $135,000. HBK Investments L P bought a new stake in Pitney Bowes during the 4th quarter worth about $157,000. Xact Kapitalforvaltning AB bought a new stake in Pitney Bowes during the 4th quarter worth about $202,000. Finally, Two Sigma Securities LLC bought a new stake in Pitney Bowes during the 4th quarter worth about $211,000. 75.30% of the stock is currently owned by hedge funds and other institutional investors.
Pitney Bowes Company Profile
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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