Pitney Bowes Inc. (PBI) Rating Increased to Buy at ValuEngine
Pitney Bowes Inc. (NYSE:PBI) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
A number of other research firms also recently commented on PBI. Loop Capital assumed coverage on Pitney Bowes in a research report on Friday, July 28th. They issued a “hold” rating and a $16.00 target price on the stock. Zacks Investment Research downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Cross Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Sidoti upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Pitney Bowes presently has an average rating of “Hold” and an average target price of $17.50.
Pitney Bowes (NYSE PBI) opened at 14.02 on Monday. The stock’s 50 day moving average price is $12.99 and its 200-day moving average price is $14.06. The company has a market cap of $2.62 billion, a PE ratio of 27.54 and a beta of 1.21. Pitney Bowes has a 1-year low of $12.31 and a 1-year high of $18.20.
Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The firm had revenue of $821.40 million during the quarter, compared to analyst estimates of $822.90 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts forecast that Pitney Bowes will post $1.68 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Brookstone Capital Management acquired a new stake in Pitney Bowes in the 2nd quarter valued at about $283,000. Fox Run Management L.L.C. grew its position in shares of Pitney Bowes by 52.1% during the second quarter. Fox Run Management L.L.C. now owns 18,400 shares of the technology company’s stock worth $278,000 after buying an additional 6,300 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Pitney Bowes by 1,354.1% during the first quarter. Municipal Employees Retirement System of Michigan now owns 86,080 shares of the technology company’s stock worth $1,129,000 after buying an additional 80,160 shares in the last quarter. BlackRock Inc. grew its position in shares of Pitney Bowes by 9,828.4% during the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock worth $277,037,000 after buying an additional 20,918,761 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Pitney Bowes by 14.5% during the first quarter. Legal & General Group Plc now owns 307,482 shares of the technology company’s stock worth $4,031,000 after buying an additional 38,896 shares in the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.
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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