Loop Capital Cuts Pitney Bowes Inc. (PBI) Price Target to $12.00

Pitney Bowes Inc. (NYSE:PBI) had its price objective lowered by Loop Capital from $14.00 to $12.00 in a research report report published on Thursday morning. The brokerage currently has a hold rating on the technology company’s stock.

PBI has been the subject of several other reports. Zacks Investment Research downgraded Pitney Bowes from a hold rating to a sell rating in a research note on Thursday, August 3rd. BidaskClub downgraded Pitney Bowes from a hold rating to a sell rating in a research note on Wednesday, August 2nd. ValuEngine raised Pitney Bowes from a hold rating to a buy rating in a research note on Monday, October 2nd. Sidoti raised Pitney Bowes from a neutral rating to a buy rating and set a $17.00 price objective for the company in a research note on Wednesday, August 2nd. Finally, Cross Research cut Pitney Bowes from a hold rating to a sell rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $14.50.

Shares of Pitney Bowes (NYSE:PBI) traded up $0.06 during mid-day trading on Thursday, hitting $11.25. The stock had a trading volume of 5,779,073 shares, compared to its average volume of 2,212,016. The stock has a market cap of $2,100.69, a P/E ratio of 7.26 and a beta of 1.25. Pitney Bowes has a fifty-two week low of $11.09 and a fifty-two week high of $16.60. The company has a current ratio of 1.42, a quick ratio of 0.90 and a debt-to-equity ratio of 35.49.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The firm had revenue of $842.82 million during the quarter, compared to analysts’ expectations of $837.60 million. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. analysts expect that Pitney Bowes will post 1.38 earnings per share for the current year.

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Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Pitney Bowes by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock worth $106,000 after purchasing an additional 748 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Pitney Bowes during the second quarter worth $108,000. IFP Advisors Inc boosted its holdings in shares of Pitney Bowes by 74.4% during the second quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock worth $170,000 after purchasing an additional 4,793 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Pitney Bowes by 23.0% during the second quarter. D.A. Davidson & CO. now owns 12,300 shares of the technology company’s stock worth $185,000 after purchasing an additional 2,300 shares during the last quarter. Finally, TSP Capital Management Group LLC boosted its holdings in shares of Pitney Bowes by 13.1% during the second quarter. TSP Capital Management Group LLC now owns 12,550 shares of the technology company’s stock worth $190,000 after purchasing an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Pitney Bowes Company Profile

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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