Shares of Pitney Bowes Inc. (NYSE:PBI) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $4.77, but opened at $4.93. Pitney Bowes shares last traded at $5.28, with a volume of 5,693,808 shares.
The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $790.10 million during the quarter, compared to analyst estimates of $768.46 million. Pitney Bowes had a return on equity of 113.87% and a net margin of 4.07%. Pitney Bowes’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share.
PBI has been the subject of a number of analyst reports. Maxim Group set a $6.00 target price on Pitney Bowes and gave the stock a “buy” rating in a report on Monday, August 26th. National Securities initiated coverage on Pitney Bowes in a report on Thursday, October 24th. They set a “buy” rating for the company. Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “sell” rating and set a $4.75 target price for the company. in a report on Monday, September 9th. Finally, ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Pitney Bowes currently has an average rating of “Hold” and a consensus price target of $5.38.
A number of institutional investors have recently bought and sold shares of the business. Trust Co. of Toledo NA OH purchased a new stake in shares of Pitney Bowes during the 2nd quarter valued at $47,000. Creative Planning purchased a new stake in shares of Pitney Bowes during the 3rd quarter valued at $47,000. Homrich & Berg purchased a new stake in shares of Pitney Bowes during the 2nd quarter valued at $53,000. First Quadrant L P CA purchased a new stake in shares of Pitney Bowes during the 2nd quarter valued at $54,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Pitney Bowes during the 3rd quarter valued at $82,000. Institutional investors own 77.02% of the company’s stock.
The firm has a fifty day moving average price of $4.59 and a 200 day moving average price of $4.47. The company has a debt-to-equity ratio of 57.19, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $774.18 million, a PE ratio of 4.40 and a beta of 1.98.
Pitney Bowes Company Profile (NYSE:PBI)
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: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
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