Deutsche Bank Increases Pitney Bowes Price Target to $18.00 (PBI)
Deutsche Bank upped their price target on shares of Pitney Bowes (NYSE:PBI) from $15.00 to $18.00 in a research note issued on Wednesday, American Banking & Market News reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target indicates a potential downside of 13.34% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Ned Davis Research upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 30th. Analysts at Zacks reiterated an “underperform” rating on shares of Pitney Bowes in a research note to investors on Friday, August 23rd. They now have a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.67.
Shares of Pitney Bowes (NYSE:PBI) remained flat at $20.77 during during mid-day trading trading on Wednesday. 5,297,091 shares of the company’s stock traded hands. Pitney Bowes has a one year low of $10.34 and a one year high of $18.03. The stock’s 50-day moving average is $17.01 and its 200-day moving average is $15.20. The company has a market cap of $4.192 billion and a price-to-earnings ratio of 17.12. Pitney Bowes also was the target of some unusual options trading activity on Monday. Investors bought 15,081 call options on the company. This represents an increase of approximately 337% compared to the typical volume of 3,454 call options.
Pitney Bowes (NYSE:PBI) last released its earnings data on Tuesday, October 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.08. The company had revenue of $939.00 million for the quarter, compared to the consensus estimate of $972.28 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts expect that Pitney Bowes will post $1.71 EPS for the current fiscal year.
Pitney Bowes Inc is a global provider of software, hardware and services to enable both physical and digital communications and to integrate those physical and digital communications channels.
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