Shares of Pitney Bowes Inc. (NYSE:PBI) have been assigned an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.00.
Several equities analysts recently commented on the company. Zacks Investment Research lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Sidoti lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th.
Shares of Pitney Bowes (NYSE:PBI) traded up 0.26% during mid-day trading on Tuesday, hitting $15.54. 1,316,020 shares of the stock traded hands. The company has a market cap of $2.90 billion, a P/E ratio of 29.16 and a beta of 1.16. The stock has a 50 day moving average price of $15.23 and a 200-day moving average price of $14.49. Pitney Bowes has a one year low of $12.31 and a one year high of $19.33.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $836.60 million for the quarter, compared to analyst estimates of $817.07 million. Pitney Bowes had a return on equity of 2,282.68% and a net margin of 3.28%. Pitney Bowes’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. On average, analysts forecast that Pitney Bowes will post $1.74 earnings per share for the current fiscal year.
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In other news, Director Linda S. Sanford acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $15.09 per share, for a total transaction of $75,450.00. Following the completion of the acquisition, the director now directly owns 18,690 shares in the company, valued at approximately $282,032.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.01% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock valued at $277,037,000 after buying an additional 20,918,761 shares in the last quarter. LSV Asset Management increased its stake in shares of Pitney Bowes by 5.4% in the first quarter. LSV Asset Management now owns 4,012,566 shares of the technology company’s stock valued at $52,604,000 after buying an additional 205,000 shares in the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of Pitney Bowes during the first quarter valued at approximately $50,988,000. Canada Pension Plan Investment Board increased its stake 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 in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in shares of Pitney Bowes by 25.1% in the first quarter. Wedge Capital Management L L P NC now owns 1,852,847 shares of the technology company’s stock valued at $24,291,000 after buying an additional 372,115 shares in the last quarter. 77.96% of the stock is owned by institutional investors and hedge funds.
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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