Pitney Bowes (NYSE:PBI) was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.
Several other equities analysts have also issued reports on PBI. Maxim Group set a $12.00 price objective on Pitney Bowes and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.00.
Shares of Pitney Bowes stock traded up $0.14 during mid-day trading on Wednesday, reaching $6.74. 1,438,350 shares of the stock traded hands, compared to its average volume of 2,396,245. Pitney Bowes has a fifty-two week low of $5.51 and a fifty-two week high of $13.09. The stock has a market capitalization of $1.26 billion, a P/E ratio of 4.78 and a beta of 1.46. The company has a debt-to-equity ratio of 12.25, a current ratio of 1.19 and a quick ratio of 1.16.
Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, February 5th. The technology company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Pitney Bowes had a return on equity of 108.12% and a net margin of 7.21%. The business had revenue of $947.10 million during the quarter, compared to analysts’ expectations of $932.48 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Pitney Bowes will post 1.16 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kovack Advisors Inc. boosted its stake in shares of Pitney Bowes by 6.8% in the fourth quarter. Kovack Advisors Inc. now owns 37,274 shares of the technology company’s stock worth $220,000 after buying an additional 2,382 shares during the last quarter. Stevens Capital Management LP purchased a new position in Pitney Bowes during the fourth quarter worth approximately $765,000. Oregon Public Employees Retirement Fund boosted its position in Pitney Bowes by 509.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 444,710 shares of the technology company’s stock worth $75,000 after purchasing an additional 371,705 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Pitney Bowes by 9.1% during the fourth quarter. Victory Capital Management Inc. now owns 133,596 shares of the technology company’s stock valued at $790,000 after acquiring an additional 11,154 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Pitney Bowes by 8.8% during the fourth quarter. Westside Investment Management Inc. now owns 139,400 shares of the technology company’s stock valued at $824,000 after acquiring an additional 11,300 shares during the last quarter. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
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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