Pitney Bowes Inc. (PBI) Receives Average Recommendation of “Buy” from Analysts
Shares of Pitney Bowes Inc. (NYSE:PBI) have earned a consensus broker rating score of 1.50 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and three have given a strong buy recommendation to the company.
Brokers have set a 1-year consensus price target of $21.75 for the company and are expecting that the company will post $0.58 EPS for the current quarter, according to Zacks. Zacks has also given Pitney Bowes an industry rank of 55 out of 265 based on the ratings given to related companies.
PBI has been the topic of a number of recent research reports. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, September 27th. TheStreet cut Pitney Bowes from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Finally, Brean Capital restated a “buy” rating and issued a $20.00 target price (down from $24.00) on shares of Pitney Bowes in a report on Wednesday, November 2nd.
Pitney Bowes (NYSE:PBI) traded up 1.258% during trading on Friday, hitting $16.505. The stock had a trading volume of 975,335 shares. The firm’s 50 day moving average is $15.54 and its 200 day moving average is $17.08. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 12.012 and a beta of 1.33. Pitney Bowes has a 1-year low of $14.22 and a 1-year high of $21.81.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, November 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.02. The company earned $839 million during the quarter, compared to analyst estimates of $851.82 million. Pitney Bowes had a return on equity of 256.96% and a net margin of 8.02%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, analysts anticipate that Pitney Bowes will post $1.73 earnings per share for the current year.
In other Pitney Bowes news, insider Marc Bradley Lautenbach purchased 4,739 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were acquired at an average price of $14.76 per share, for a total transaction of $69,947.64. Following the completion of the acquisition, the insider now owns 80,937 shares of the company’s stock, valued at approximately $1,194,630.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Guidotti purchased 3,405 shares of the stock in a transaction dated Friday, November 18th. The shares were acquired at an average price of $14.70 per share, for a total transaction of $50,053.50. Following the acquisition, the executive vice president now directly owns 3,405 shares of the company’s stock, valued at approximately $50,053.50. The disclosure for this purchase can be found here. Insiders own 1.43% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PBI. Massachusetts Financial Services Co. MA acquired a new position in shares of Pitney Bowes during the second quarter worth $22,551,000. Canada Pension Plan Investment Board increased its position in shares of Pitney Bowes by 144.8% in the second quarter. Canada Pension Plan Investment Board now owns 950,510 shares of the company’s stock worth $16,919,000 after buying an additional 562,210 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Pitney Bowes by 8.2% in the third quarter. Wells Fargo & Company MN now owns 7,002,244 shares of the company’s stock worth $127,161,000 after buying an additional 529,171 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Pitney Bowes by 56.4% in the third quarter. TIAA CREF Investment Management LLC now owns 1,415,138 shares of the company’s stock worth $25,699,000 after buying an additional 510,282 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Pitney Bowes by 2,877.4% in the second quarter. Janus Capital Management LLC now owns 462,800 shares of the company’s stock worth $8,238,000 after buying an additional 447,256 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.
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 clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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