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

Shares of Pitney Bowes Inc. (NYSE:PBI) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $12.00.

A number of equities analysts have recently commented on PBI shares. Citigroup assumed coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a research note on Monday, December 29th. Truist Financial assumed coverage on shares of Pitney Bowes in a report on Friday, December 12th. They set a “hold” rating and a $11.00 price objective on the stock. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Finally, JMP Securities set a $13.00 price target on shares of Pitney Bowes in a research report on Wednesday, December 3rd.

Pitney Bowes Stock Performance

Shares of PBI opened at $10.13 on Thursday. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.48 and a beta of 1.30. Pitney Bowes has a 52-week low of $7.39 and a 52-week high of $13.11. The business’s fifty day moving average is $10.24 and its 200-day moving average is $10.91.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $459.68 million during the quarter, compared to analyst estimates of $467.45 million. Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. As a group, research analysts forecast that Pitney Bowes will post 1.21 EPS for the current fiscal year.

Institutional Trading of Pitney Bowes

Several hedge funds have recently made changes to their positions in PBI. Cannell & Spears LLC lifted its position in shares of Pitney Bowes by 89.5% during the third quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock worth $38,389,000 after acquiring an additional 1,588,579 shares in the last quarter. LSV Asset Management bought a new stake in shares of Pitney Bowes during the 3rd quarter valued at about $13,812,000. Hennessy Advisors Inc. bought a new stake in Pitney Bowes during the second quarter valued at approximately $12,660,000. Cibc World Market Inc. lifted its holdings in shares of Pitney Bowes by 2,724.6% during the 3rd quarter. Cibc World Market Inc. now owns 836,071 shares of the technology company’s stock worth $9,540,000 after acquiring an additional 806,471 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Pitney Bowes during the third quarter worth about $7,683,000. 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.