Pitney Bowes (NYSE:PBI) Cut to Hold at ValuEngine

Pitney Bowes (NYSE:PBI) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

A number of other analysts have also recently commented on the stock. National Securities initiated coverage on shares of Pitney Bowes in a research note on Thursday, October 24th. They set a “buy” rating for the company. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating and set a $4.75 target price for the company. in a research note on Monday, September 9th. Finally, Maxim Group set a $6.00 target price on shares of Pitney Bowes and gave the stock a “buy” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $5.38.

Shares of PBI stock traded down $0.37 on Tuesday, reaching $4.35. 3,727,956 shares of the company were exchanged, compared to its average volume of 3,251,500. The company has a market cap of $847.41 million, a price-to-earnings ratio of 3.75 and a beta of 1.98. The business has a 50-day moving average price of $4.70 and a 200 day moving average price of $4.34. The company has a debt-to-equity ratio of 101.03, a quick ratio of 1.09 and a current ratio of 1.12. Pitney Bowes has a 1 year low of $3.14 and a 1 year high of $8.56.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, November 5th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $790.10 million during the quarter, compared to analysts’ expectations of $768.46 million. Pitney Bowes had a net margin of 1.81% and a return on equity of 167.93%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts anticipate that Pitney Bowes will post 0.66 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in PBI. Trust Co. of Toledo NA OH purchased a new stake in Pitney Bowes during the 2nd quarter valued at about $47,000. Creative Planning purchased a new stake in Pitney Bowes during the 3rd quarter valued at about $47,000. Homrich & Berg purchased a new stake in Pitney Bowes during the 2nd quarter valued at about $53,000. First Quadrant L P CA purchased a new stake in Pitney Bowes during the 2nd quarter valued at about $54,000. Finally, Everence Capital Management Inc. purchased a new stake in Pitney Bowes during the 3rd quarter valued at about $82,000. 75.70% of the stock is owned by institutional investors.

Pitney Bowes Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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