Pitney Bowes Inc. (NYSE:PBI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Pitney Bowes Inc. (NYSE:PBI) have earned a consensus rating of “Hold” from the five ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.3333.

A number of analysts have issued reports on the company. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Citigroup assumed coverage on shares of Pitney Bowes in a report on Wednesday. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pitney Bowes in a research note on Monday. JMP Securities set a $13.00 target price on shares of Pitney Bowes in a report on Wednesday. Finally, Citizens Jmp started coverage on shares of Pitney Bowes in a research note on Wednesday. They issued an “outperform” rating and a $13.00 price target for the company.

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after buying an additional 1,015 shares during the period. Quantbot Technologies LP purchased a new position in shares of Pitney Bowes during the 1st quarter worth approximately $36,000. Elevation Point Wealth Partners LLC acquired a new position in Pitney Bowes during the second quarter worth $51,000. Canada Pension Plan Investment Board purchased a new stake in shares of Pitney Bowes in the 2nd quarter valued at $51,000. Finally, United Services Automobile Association acquired a new position in Pitney Bowes in the 1st quarter valued at about $96,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Price Performance

Shares of Pitney Bowes stock opened at $9.50 on Wednesday. The stock’s 50 day simple moving average is $10.49 and its 200-day simple moving average is $10.95. The stock has a market cap of $1.53 billion, a P/E ratio of 21.10, a P/E/G ratio of 0.57 and a beta of 1.32. Pitney Bowes has a 1-year low of $6.88 and a 1-year high of $13.11.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $459.68 million for the quarter, compared to analysts’ expectations of $467.45 million. Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, research analysts expect that Pitney Bowes will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 10th will be given a $0.09 dividend. The ex-dividend date is Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 3.8%. Pitney Bowes’s dividend payout ratio (DPR) is currently 80.00%.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.