Pitney Bowes (NYSE:PBI) Upgraded by StockNews.com to “Buy”

Pitney Bowes (NYSE:PBI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $5.27 on Friday. Pitney Bowes has a fifty-two week low of $2.80 and a fifty-two week high of $5.51. The firm’s 50-day simple moving average is $4.18 and its 200 day simple moving average is $4.08.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. Pitney Bowes had a negative net margin of 11.67% and a negative return on equity of 3.09%. The business had revenue of $831.00 million for the quarter, compared to analysts’ expectations of $797.00 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts expect that Pitney Bowes will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio raised its position in Pitney Bowes by 98.5% in the third quarter. Strs Ohio now owns 52,000 shares of the technology company’s stock worth $157,000 after acquiring an additional 25,800 shares during the period. Allspring Global Investments Holdings LLC raised its position in Pitney Bowes by 50.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock worth $56,000 after acquiring an additional 6,279 shares during the period. Capital Management Corp VA raised its position in Pitney Bowes by 2.3% in the third quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock worth $13,709,000 after acquiring an additional 104,190 shares during the period. Syon Capital LLC bought a new stake in Pitney Bowes in the third quarter worth about $32,000. Finally, Illinois Municipal Retirement Fund bought a new stake in Pitney Bowes in the third quarter worth about $327,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.