Shares of Pitney Bowes Inc. (NYSE:PBI) have been given an average recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $17.67.
PBI has been the subject of a number of analyst reports. Zacks Investment Research raised Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Friday, May 12th. Sidoti raised 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. Loop Capital initiated coverage on Pitney Bowes in a research report on Friday, July 28th. They issued a “hold” rating and a $16.00 price target for the company. BidaskClub cut Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
Pitney Bowes (NYSE:PBI) traded down 0.78% during midday trading on Friday, hitting $12.68. The stock had a trading volume of 1,419,143 shares. The stock has a market cap of $2.37 billion, a P/E ratio of 24.91 and a beta of 1.17. Pitney Bowes has a 12-month low of $12.31 and a 12-month high of $19.10. The company’s 50-day moving average price is $14.71 and its 200 day moving average price is $14.21.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The company had revenue of $821.40 million during the quarter, compared to analyst estimates of $822.90 million. During the same period in the prior year, the firm earned $0.39 EPS. Pitney Bowes’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts predict 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. Investors of record on Friday, August 25th will be given a dividend of $0.1875 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.75 annualized dividend and a dividend yield of 5.91%. Pitney Bowes’s dividend payout ratio is presently 144.23%.
In other Pitney Bowes news, Director Linda S. Sanford acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average price of $15.09 per share, with a total value of $75,450.00. Following the transaction, the director now owns 18,690 shares of the company’s stock, valued at $282,032.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.01% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of PBI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pitney Bowes by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after buying an additional 748 shares in the last quarter. Seven Eight Capital LP acquired a new position in Pitney Bowes during the second quarter valued at $108,000. Sheaff Brock Investment Advisors LLC boosted its position in Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock valued at $146,000 after buying an additional 500 shares in the last quarter. Trexquant Investment LP acquired a new position in Pitney Bowes during the first quarter valued at $149,000. Finally, Fox Run Management L.L.C. acquired a new position in Pitney Bowes during the first quarter valued at $159,000. 76.98% of the stock is owned by institutional investors and hedge funds.
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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