Zacks: Analysts Expect Pitney Bowes Inc. (PBI) Will Announce Earnings of $0.36 Per Share
Wall Street brokerages predict that Pitney Bowes Inc. (NYSE:PBI) will announce earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Pitney Bowes’ earnings. Pitney Bowes posted earnings per share of $0.53 during the same quarter last year, which indicates a negative year-over-year growth rate of 32.1%. The business is scheduled to announce its next earnings report on Wednesday, February 7th.
On average, analysts expect that Pitney Bowes will report full-year earnings of $1.38 per share for the current fiscal year. For the next fiscal year, analysts forecast that the business will post earnings of $1.47 per share, with EPS estimates ranging from $1.38 to $1.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Pitney Bowes.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The company had revenue of $842.82 million for the quarter, compared to the consensus estimate of $837.60 million. During the same period last year, the company earned $0.44 EPS. Pitney Bowes’s revenue for the quarter was up .5% compared to the same quarter last year.
PBI has been the topic of several research reports. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “strong sell” rating in a research report on Monday, November 6th. Loop Capital decreased their price objective 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. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Cross Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.50.
Pitney Bowes (NYSE PBI) opened at $9.93 on Friday. 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 fifty-two week low of $9.50 and a fifty-two week high of $16.60. The company has a market cap of $1,854.21, a price-to-earnings ratio of 6.41 and a beta of 1.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.75 annualized dividend and a yield of 7.55%. Pitney Bowes’s dividend payout ratio (DPR) is currently 156.25%.
Several institutional investors and hedge funds have recently made changes to their positions in PBI. Sirios Capital Management L P purchased a new stake in shares of Pitney Bowes in the third quarter valued at $45,044,000. Miller Howard Investments Inc. NY increased its holdings in Pitney Bowes by 32.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock worth $71,351,000 after acquiring an additional 1,259,978 shares in the last quarter. Prudential Financial Inc. boosted its stake in Pitney Bowes by 344.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,482,000 shares of the technology company’s stock worth $22,378,000 after purchasing an additional 1,148,594 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Pitney Bowes by 93.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock worth $31,863,000 after purchasing an additional 1,019,942 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its stake in Pitney Bowes by 2,253.5% during the 2nd quarter. Freestone Capital Holdings LLC now owns 1,045,446 shares of the technology company’s stock worth $15,785,000 after purchasing an additional 1,001,026 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.
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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.
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