Pitney Bowes Inc. (PBI) Lowered to “Sell” at Cross Research
Pitney Bowes Inc. (NYSE:PBI) was downgraded by analysts at Cross Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
Several other equities analysts have also weighed in on PBI. BidaskClub lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Loop Capital began coverage on shares of Pitney Bowes in a report on Friday, July 28th. They set a “hold” rating and a $16.00 target price for the company. Sidoti raised shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a report on Wednesday, August 2nd. Finally, ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.50.
Pitney Bowes (NYSE PBI) traded up 1.60% during trading on Tuesday, hitting $13.37. 3,403,437 shares of the company’s stock were exchanged. Pitney Bowes has a 12-month low of $12.31 and a 12-month high of $19.10. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 26.27 and a beta of 1.17. The company’s 50-day moving average price is $15.09 and its 200 day moving average price is $14.37.
Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.03. The firm had revenue of $821.40 million for the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. Pitney Bowes’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. Equities analysts forecast that Pitney Bowes will post $1.68 earnings per share for the current fiscal year.
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In related news, Director Linda S. Sanford purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average price of $15.09 per share, with a total value of $75,450.00. Following the acquisition, the director now owns 18,690 shares in the company, valued at $282,032.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.01% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the company. Huntington National Bank increased its position in shares of Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock valued at $222,000 after buying an additional 1,553 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Pitney Bowes by 54.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,217,500 shares of the technology company’s stock valued at $29,071,000 after buying an additional 782,900 shares during the last quarter. New Jersey Better Educational Savings Trust purchased a new position in shares of Pitney Bowes during the first quarter valued at approximately $498,000. Miller Howard Investments Inc. NY purchased a new position in shares of Pitney Bowes during the first quarter valued at approximately $50,988,000. Finally, Buckhead Capital Management LLC purchased a new position in shares of Pitney Bowes during the first quarter valued at approximately $1,248,000. 77.12% of the stock is owned by institutional investors.
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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