StockNews.com Upgrades Pitney Bowes (NYSE:PBI) to Buy

Pitney Bowes (NYSE:PBI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Pitney Bowes Price Performance

Shares of NYSE:PBI traded up $0.01 during trading on Friday, hitting $5.27. 3,467,879 shares of the company were exchanged, compared to its average volume of 1,493,756. Pitney Bowes has a 52-week low of $2.80 and a 52-week high of $5.51. The stock has a 50 day moving average of $4.18 and a 200 day moving average of $4.07. The company has a market cap of $935.43 million, a PE ratio of -2.40, a P/E/G ratio of 28.07 and a beta of 2.14.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, May 2nd. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. The business had revenue of $831.00 million during the quarter, compared to the consensus estimate of $797.00 million. During the same quarter last year, the company earned ($0.01) EPS. The firm’s revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast that Pitney Bowes will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PBI. Strs Ohio raised its holdings in shares of Pitney Bowes by 98.5% in the 3rd quarter. Strs Ohio now owns 52,000 shares of the technology company’s stock valued at $157,000 after acquiring an additional 25,800 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Pitney Bowes by 50.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock worth $56,000 after buying an additional 6,279 shares in the last quarter. Capital Management Corp VA increased its holdings in shares of Pitney Bowes by 2.3% in the 3rd quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock worth $13,709,000 after buying an additional 104,190 shares during the last quarter. Syon Capital LLC purchased a new stake in shares of Pitney Bowes during the 3rd quarter valued at $32,000. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Pitney Bowes during the 3rd quarter worth $327,000. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Company Profile

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.