Northcoast Research Downgrades Pitney Bowes (PBI) to Neutral

Pitney Bowes (NYSE:PBI) was downgraded by equities research analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a report issued on Wednesday, The Fly reports.

A number of other brokerages have also recently commented on PBI. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Maxim Group set a $12.00 price objective on Pitney Bowes and gave the stock a “buy” rating in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

NYSE PBI traded up $0.22 during mid-day trading on Wednesday, hitting $6.82. The stock had a trading volume of 1,942,005 shares, compared to its average volume of 2,396,245. Pitney Bowes has a 52-week low of $5.51 and a 52-week high of $13.09. The company has a market capitalization of $1.26 billion, a P/E ratio of 4.84 and a beta of 1.46. The company has a debt-to-equity ratio of 12.25, a current ratio of 1.19 and a quick ratio of 1.16.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. The company had revenue of $947.10 million for the quarter, compared to analysts’ expectations of $932.48 million. Pitney Bowes had a return on equity of 108.12% and a net margin of 7.21%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. On average, research analysts expect that Pitney Bowes will post 1.16 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. lifted its stake in shares of Pitney Bowes by 6.8% in the fourth quarter. Kovack Advisors Inc. now owns 37,274 shares of the technology company’s stock worth $220,000 after acquiring an additional 2,382 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Pitney Bowes by 32.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,077 shares of the technology company’s stock valued at $77,000 after buying an additional 3,170 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Pitney Bowes by 26.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 16,111 shares of the technology company’s stock valued at $95,000 after purchasing an additional 3,330 shares during the last quarter. American International Group Inc. grew its holdings in shares of Pitney Bowes by 1.1% during the third quarter. American International Group Inc. now owns 554,232 shares of the technology company’s stock valued at $3,924,000 after purchasing an additional 6,279 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Pitney Bowes by 12.0% during the fourth quarter. Meeder Asset Management Inc. now owns 63,092 shares of the technology company’s stock valued at $373,000 after purchasing an additional 6,777 shares during the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.

About Pitney Bowes

Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.

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