Analysts Set Pitney Bowes Inc. (NYSE:PBI) Price Target at $16.43

Pitney Bowes Inc. (NYSE:PBI) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.4250.

Several equities research analysts have recently commented on PBI shares. Zacks Research cut Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Truist Financial boosted their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $9.50 to $16.50 in a research report on Monday, May 11th. Finally, Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a research note on Tuesday, June 16th.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, CEO Kurt James Wolf sold 316,280 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $17.10, for a total transaction of $5,408,388.00. Following the transaction, the chief executive officer owned 217,930 shares in the company, valued at approximately $3,726,603. The trade was a 59.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah Pfeiffer sold 18,750 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total value of $301,125.00. Following the transaction, the executive vice president directly owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,349,130 shares of company stock valued at $53,285,535. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Evanson Financial LLC acquired a new stake in Pitney Bowes in the second quarter valued at $200,000. Baron Wealth Management LLC purchased a new position in shares of Pitney Bowes in the 2nd quarter valued at about $176,000. Pacer Advisors Inc. acquired a new stake in shares of Pitney Bowes in the first quarter valued at about $12,950,000. Bank of America Corp DE lifted its stake in shares of Pitney Bowes by 39.5% in the first quarter. Bank of America Corp DE now owns 326,865 shares of the technology company’s stock valued at $3,612,000 after purchasing an additional 92,607 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in Pitney Bowes during the first quarter worth about $184,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Down 0.0%

NYSE PBI opened at $18.51 on Thursday. The firm has a market cap of $2.51 billion, a P/E ratio of 17.97, a P/E/G ratio of 0.83 and a beta of 1.62. Pitney Bowes has a 52-week low of $8.95 and a 52-week high of $18.65. The business’s 50-day moving average price is $16.89 and its 200 day moving average price is $13.31.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The firm had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. During the same period in the prior year, the business earned $0.33 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts anticipate that Pitney Bowes will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio is currently 38.83%.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.