Pitney Bowes (NYSE:PBI) Releases Earnings Results

Pitney Bowes (NYSE:PBI) posted its quarterly earnings results on Tuesday. The technology company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.38 by $0.07, FiscalAI reports. Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. The business had revenue of $477.63 million for the quarter, compared to analysts’ expectations of $482.47 million.

Pitney Bowes Price Performance

NYSE:PBI remained flat at $10.25 during midday trading on Tuesday. 2,774,115 shares of the company were exchanged, compared to its average volume of 1,774,285. The firm has a market capitalization of $1.65 billion, a PE ratio of 22.78, a P/E/G ratio of 0.48 and a beta of 1.41. Pitney Bowes has a 1-year low of $7.39 and a 1-year high of $13.11. The business has a fifty day moving average price of $10.42 and a two-hundred day moving average price of $10.76.

Wall Street Analysts Forecast Growth

PBI has been the topic of a number of recent research reports. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Truist Financial initiated coverage on Pitney Bowes in a research note on Friday, December 12th. They issued a “hold” rating and a $11.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pitney Bowes in a research report on Monday, December 29th. The Goldman Sachs Group started coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They issued a “neutral” rating and a $11.00 target price for the company. Finally, Citigroup assumed coverage on shares of Pitney Bowes in a research note on Wednesday, December 3rd. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Hedge Funds Weigh In On Pitney Bowes

A number of institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in shares of Pitney Bowes by 3.1% in the second quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock valued at $69,455,000 after purchasing an additional 188,886 shares in the last quarter. Invesco Ltd. increased its holdings in Pitney Bowes by 29.5% in the 3rd quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company’s stock valued at $29,917,000 after buying an additional 597,938 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pitney Bowes by 13.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,138,170 shares of the technology company’s stock valued at $22,601,000 after buying an additional 260,855 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pitney Bowes by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,064,935 shares of the technology company’s stock worth $21,826,000 after acquiring an additional 38,458 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Pitney Bowes by 14.1% during the 3rd quarter. Millennium Management LLC now owns 1,642,148 shares of the technology company’s stock worth $18,737,000 after acquiring an additional 202,667 shares during the period. 67.88% of the stock is currently owned by institutional investors.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.