Pitney Bowes Inc. (NYSE:PBI) Receives Average Recommendation of “Hold” from Analysts

Pitney Bowes Inc. (NYSE:PBI) has received an average recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.3333.

PBI has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. JMP Securities set a $13.00 price objective on shares of Pitney Bowes in a report on Wednesday. Citizens Jmp assumed coverage on shares of Pitney Bowes in a research report on Wednesday. They set an “outperform” rating and a $13.00 price objective for the company. Citigroup started coverage on Pitney Bowes in a report on Wednesday. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on Pitney Bowes in a research note on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price target on the stock.

Institutional Trading of Pitney Bowes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. purchased a new stake in Pitney Bowes in the second quarter valued at $12,660,000. Vanguard Group Inc. grew its holdings in shares of Pitney Bowes by 0.7% during the first quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company’s stock worth $192,890,000 after purchasing an additional 151,353 shares during the last quarter. Nuveen LLC purchased a new position in shares of Pitney Bowes during the first quarter worth about $5,322,000. Informed Momentum Co LLC acquired a new stake in shares of Pitney Bowes during the first quarter worth about $3,316,000. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Pitney Bowes by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 501,354 shares of the technology company’s stock valued at $4,537,000 after purchasing an additional 107,511 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Price Performance

PBI opened at $9.50 on Wednesday. The business has a fifty day moving average price of $10.49 and a 200 day moving average price of $10.95. Pitney Bowes has a 12 month low of $6.88 and a 12 month high of $13.11. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 0.57 and a beta of 1.32.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Pitney Bowes had a net margin of 4.14% and a negative return on equity of 40.31%. The company had revenue of $459.68 million during the quarter, compared to analysts’ expectations of $467.45 million. During the same quarter in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. On average, research analysts anticipate that Pitney Bowes will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 10th will be given a dividend of $0.09 per share. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.36 annualized dividend and a dividend yield of 3.8%. Pitney Bowes’s dividend payout ratio is 80.00%.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.