Pitney Bowes (PBI) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Pitney Bowes (NYSE:PBI) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Other analysts also recently issued reports about the stock. Loop Capital reduced their target price on shares of Pitney Bowes from $14.00 to $12.00 and set a hold rating on the stock in a research report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Pitney Bowes from a sell rating to a hold rating in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $14.50.

Pitney Bowes (NYSE PBI) traded down $0.10 during trading hours on Friday, hitting $11.30. 1,126,300 shares of the stock were exchanged, compared to its average volume of 1,702,600. The stock has a market cap of $2,130.00, a P/E ratio of 24.04 and a beta of 1.11. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 35.49. Pitney Bowes has a 12-month low of $9.50 and a 12-month high of $16.60.

Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, November 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). The business had revenue of $842.82 million during the quarter, compared to analysts’ expectations of $837.60 million. Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. analysts expect that Pitney Bowes will post 1.38 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Monday, November 20th. Pitney Bowes’s payout ratio is 159.57%.

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in Pitney Bowes by 23.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 64,824 shares of the technology company’s stock worth $909,000 after purchasing an additional 12,180 shares in the last quarter. Gotham Asset Management LLC boosted its stake in Pitney Bowes by 50.0% in the 2nd quarter. Gotham Asset Management LLC now owns 398,026 shares of the technology company’s stock worth $6,010,000 after purchasing an additional 132,684 shares in the last quarter. TrueNorth Inc. boosted its stake in Pitney Bowes by 54.6% in the 3rd quarter. TrueNorth Inc. now owns 122,447 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 43,228 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Pitney Bowes in the 3rd quarter worth about $472,000. Finally, WBI Investments Inc. boosted its stake in Pitney Bowes by 254.2% in the 2nd quarter. WBI Investments Inc. now owns 63,533 shares of the technology company’s stock worth $959,000 after purchasing an additional 45,597 shares in the last quarter. Institutional investors own 73.74% of the company’s stock.

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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.

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

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