Zacks Investment Research upgraded shares of Pitney Bowes (NYSE:PBI) from a sell rating to a hold rating in a report released on Thursday morning.
According to Zacks, “Pitney Bowes provides mail processing equipment and integrated mail solutions across the world. The company’s efforts to transform its business and optimize its new enterprise business platform to boost profitability hold promise. This apart, the thriving global ecommerce business and new product launches are anticipated to bolster the top line. Nonetheless, as the company continues to transform its portfolio and make necessary investments to boost sales, it expects pressure on margins at least in the near term. Changing business mix is also likely to impact the bottom line adversely. The shares of the company have underperformed the industry in the past year. Moreover, adverse changes in postal regulations across key markets and intensifying competition may also affect profitability negatively.”
Other analysts also recently issued reports about the stock. Maxim Group set a $12.00 price objective on shares of Pitney Bowes and gave the company a buy rating in a research report on Wednesday, August 1st. ValuEngine downgraded shares of Pitney Bowes from a sell rating to a strong sell rating in a report on Tuesday, September 4th.
Shares of PBI stock opened at $7.06 on Thursday. The firm has a market cap of $1.33 billion, a PE ratio of 5.01 and a beta of 0.96. Pitney Bowes has a one year low of $6.88 and a one year high of $14.80. The company has a debt-to-equity ratio of 16.56, a quick ratio of 1.20 and a current ratio of 1.23.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $854.03 million. Pitney Bowes had a net margin of 6.66% and a return on equity of 138.42%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. On average, equities analysts forecast that Pitney Bowes will post 1.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 11th. Shareholders of record on Friday, August 24th were issued a $0.1875 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $0.75 dividend on an annualized basis and a yield of 10.62%. Pitney Bowes’s dividend payout ratio is currently 53.19%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Hong Kong Ltd bought a new stake in Pitney Bowes in the 1st quarter valued at $132,000. Element Capital Management LLC bought a new stake in Pitney Bowes in the 1st quarter valued at $135,000. New Jersey Better Educational Savings Trust bought a new stake in Pitney Bowes in the 2nd quarter valued at $171,000. Wedbush Securities Inc. bought a new stake in Pitney Bowes in the 2nd quarter valued at $184,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Pitney Bowes in the 2nd quarter valued at $219,000. Institutional investors own 72.14% of the company’s stock.
About Pitney Bowes
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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