Pitney Bowes Inc. (NYSE:PBI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Pitney Bowes Inc. (NYSE:PBI) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $16.4250.

PBI has been the topic of a number of analyst reports. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and increased their price target for the company from $9.50 to $16.50 in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a research report on Friday, May 8th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Truist Financial increased their target price on Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th.

Insider Buying and Selling

In related news, CEO Kurt James Wolf sold 322,829 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.40, for a total transaction of $5,617,224.60. Following the completion of the sale, the chief executive officer directly owned 264,922 shares of the company’s stock, valued at approximately $4,609,642.80. This represents a 54.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 18,750 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total value of $301,125.00. Following the sale, the executive vice president directly owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. The trade was a 16.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,030,097 shares of company stock valued at $46,661,100. 6.50% of the stock is owned by company insiders.

Institutional Trading of Pitney Bowes

A number of large investors have recently bought and sold shares of PBI. Royal Bank of Canada increased its stake in Pitney Bowes by 133.1% during the 1st quarter. Royal Bank of Canada now owns 52,958 shares of the technology company’s stock worth $478,000 after purchasing an additional 30,238 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Pitney Bowes by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company’s stock worth $882,000 after acquiring an additional 5,149 shares during the last quarter. United Services Automobile Association acquired a new position in Pitney Bowes during the 1st quarter worth approximately $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Pitney Bowes by 18.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company’s stock worth $4,258,000 after acquiring an additional 72,437 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in Pitney Bowes by 15.5% during the 1st quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company’s stock worth $1,768,000 after acquiring an additional 26,260 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $17.49 on Friday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 0.79 and a beta of 1.63. The firm’s 50 day simple moving average is $15.44 and its 200 day simple moving average is $12.21. Pitney Bowes has a fifty-two week low of $8.95 and a fifty-two week high of $17.77.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $477.41 million for the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. Pitney Bowes’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. Equities research analysts expect that Pitney Bowes will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio is presently 38.83%.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.