Pitney Bowes Inc. (PBI) Downgraded by ValuEngine to “Hold”
ValuEngine downgraded shares of Pitney Bowes Inc. (NYSE:PBI) from a buy rating to a hold rating in a research report report published on Friday morning.
PBI has been the topic of several other research reports. Sidoti downgraded Pitney Bowes from a buy rating to a neutral rating in a research report on Monday, May 15th. Zacks Investment Research downgraded Pitney Bowes from a hold rating to a sell rating in a research report on Thursday, August 3rd. BidaskClub downgraded Pitney Bowes from a hold rating to a sell rating in a research report on Wednesday, August 2nd. Loop Capital assumed coverage on Pitney Bowes in a research report on Friday, July 28th. They set a hold rating and a $16.00 target price on the stock. Finally, Cross Research downgraded Pitney Bowes from a hold rating to a sell rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $17.50.
Pitney Bowes (PBI) opened at 12.90 on Friday. Pitney Bowes has a one year low of $12.31 and a one year high of $19.10. The company has a market cap of $2.41 billion, a PE ratio of 25.34 and a beta of 1.20. The stock has a 50 day moving average of $13.75 and a 200 day moving average of $14.10.
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 Thomson Reuters’ consensus estimate of $0.36 by $0.03. The company had revenue of $821.40 million for the quarter, compared to the consensus estimate of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, analysts anticipate that Pitney Bowes will post $1.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 5.81%. The ex-dividend date is Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio (DPR) is presently 144.23%.
A number of institutional investors have recently made changes to their positions in PBI. Louisiana State Employees Retirement System grew its position in Pitney Bowes by 302.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the technology company’s stock valued at $617,000 after acquiring an additional 35,400 shares during the last quarter. Nationwide Fund Advisors grew its position in Pitney Bowes by 481.9% in the 1st quarter. Nationwide Fund Advisors now owns 309,967 shares of the technology company’s stock valued at $4,064,000 after acquiring an additional 256,697 shares during the last quarter. Profund Advisors LLC bought a new position in Pitney Bowes in the 1st quarter valued at $420,000. Glen Harbor Capital Management LLC grew its position in Pitney Bowes by 176.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 55,770 shares of the technology company’s stock valued at $731,000 after acquiring an additional 35,574 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Pitney Bowes in the 1st quarter valued at $1,135,000. 76.28% of the stock is currently owned by institutional investors.
About Pitney Bowes
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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