Pitney Bowes (NYSE:PBI) Posts Earnings Results, Beats Expectations By $0.07 EPS

Pitney Bowes (NYSE:PBI) posted its earnings results on Wednesday. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07, FiscalAI reports. The business had revenue of $456.18 million during the quarter, compared to analyst estimates of $458.24 million. Pitney Bowes had a negative return on equity of 31.37% and a net margin of 10.04%.

Pitney Bowes Trading Up 0.7%

Pitney Bowes stock traded up $0.12 during trading on Wednesday, reaching $17.41. The company had a trading volume of 1,789,038 shares, compared to its average volume of 2,430,974. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.70 and a beta of 1.66. The firm’s 50-day simple moving average is $16.90 and its 200 day simple moving average is $14.71. Pitney Bowes has a 52 week low of $8.95 and a 52 week high of $19.07.

Insider Buying and Selling at Pitney Bowes

In related news, CEO Kurt Wolf sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $16.16, for a total transaction of $2,424,000.00. Following the completion of the transaction, the chief executive officer directly owned 91,321 shares in the company, valued at approximately $1,475,747.36. The trade was a 62.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $17.11, for a total transaction of $342,200.00. Following the completion of the sale, the executive vice president directly owned 79,223 shares of the company’s stock, valued at $1,355,505.53. This represents a 20.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,461,767 shares of company stock valued at $25,920,799. Company insiders own 6.50% of the company’s stock.

Wall Street Analyst Weigh In

PBI has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Pitney Bowes from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, July 31st. Zacks Research downgraded Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Citigroup reaffirmed a “market outperform” rating on shares of Pitney Bowes in a report on Friday, July 31st. Weiss Ratings cut Pitney Bowes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Wall Street Zen cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.45.

About Pitney Bowes

Pitney Bowes Inc (NYSE:PBI) is a global technology and services company that helps businesses manage mailing, shipping and related communications. Its offerings include postage meters, mailing systems, shipping software, parcel management tools, address and data services, and equipment financing and support.

The company serves small businesses, large enterprises and government organizations through solutions designed to streamline the preparation, processing and delivery of physical mail and packages.