Zacks: Analysts Expect Pitney Bowes Inc. (PBI) Will Post Earnings of $0.45 Per Share
Analysts predict that Pitney Bowes Inc. (NYSE:PBI) will report earnings of $0.45 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Pitney Bowes’ earnings. Pitney Bowes reported earnings per share of $0.44 in the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The company is scheduled to issue its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Pitney Bowes will report full year earnings of $1.70 per share for the current year, with EPS estimates ranging from $1.69 to $1.70. For the next fiscal year, analysts expect that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.84 to $1.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Pitney Bowes.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.03. The business had revenue of $821.40 million for the quarter, compared to the consensus estimate of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Friday, May 12th. Loop Capital began coverage on Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 target price for the company. Sidoti lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.50.
Shares of Pitney Bowes (NYSE:PBI) traded down 0.78% during mid-day trading on Tuesday, hitting $12.68. The stock had a trading volume of 1,419,143 shares. The stock’s 50-day moving average is $14.63 and its 200 day moving average is $14.19. The company has a market cap of $2.37 billion, a PE 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio is currently 144.23%.
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In other news, Director Linda S. Sanford acquired 5,000 shares of Pitney Bowes stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $15.09 per share, for a total transaction of $75,450.00. Following the acquisition, the director now directly owns 18,690 shares of the company’s stock, valued at approximately $282,032.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.01% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBI. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Pitney Bowes by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock worth $106,000 after buying an additional 748 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Pitney Bowes during the second quarter worth about $108,000. Sheaff Brock Investment Advisors LLC increased its position in shares of 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 worth $146,000 after buying an additional 500 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Pitney Bowes during the first quarter worth about $149,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Pitney Bowes during the first quarter worth about $159,000. Institutional investors own 76.98% of the company’s stock.
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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